25.01.25

On 24 January 2025, the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, held talks with the Chairman of the Board of the International Bank of Azerbaijan (IBA), Abbas Ibrahimov.

The meeting focused on discussing cooperation prospects in the banking, investment, and financial sectors.

The Uzbek side presented new areas of collaboration to the Azerbaijani partners, including the privatization program, initiatives for the implementation of innovative banking services, and large projects for joint financing.

Abbas Ibrahimov highly praised Uzbekistan’s efforts to improve the investment climate and digitize the banking system. He also expressed readiness to participate in the implementation of investment projects in collaboration with local banks and fintech companies.

As a result of the meeting, both sides confirmed their mutual interest in strengthening cooperation and outlined the format for collaboration to ensure the effective implementation of agreed initiatives.

The International Bank of Azerbaijan (IBA), founded in 1992 in Baku, is one of the largest financial institutions in the South Caucasus region. Its assets amount to $8.1 billion. The bank serves about 16,000 legal entities and more than 2.2 million individuals. It operates 74 branches and 10 departments throughout Azerbaijan, employing 3,500 people.

https://www.uzdaily.uz/en/the-international-bank-of-azerbaijan-interested-in-the-uzbek-market/