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TBC Bank has not yet applied The National Bank of Azerbaijan for permission to open branch in Baku
Real estate news By Azerbaijan Business Center
11.10.2007 16:53
Baku, Fineko/abc.az. In spite of decision of 4th session of Intergovernmental Commission for Economic Cooperation between Azerbaijan and Georgia, Georgian TBC Bank is still far from opening of the branch in Baku.
Adishirin Gasimov, Bank Supervision Department Chief (The National Bank of Azerbaijan) reported that TBC Bank has not yet applied The National Bank for permission to open the branch in Baku. “Submitted documents will be examined in set order,” A.Gasimov said.
Preliminary NBA must examine consistent documents and then give to the pretendent 180 days for organizational works. Only after that a licensee can be given. The Commission reported that The National Bank and Ministry of Justice of Azerbaijan were charged to forward examination of opening of Georgian TBC Bank branch in Baku. At present branches of The National Bank of Pakistan and Bank Melli Iran act in Azerbaijan.
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