Azerbaijani President Ilham Aliyev signed a document on amending the Decree of 2015 “On measures for the financial recovery of the International Bank of Azerbaijan” to prepare for the privatization of a package of shares owned by the state.
It is reported that these changes will lead to the restriction of the participation of the Ministry of Finance and the Central Bank in the process of privatization of interbank.
According to change, the Ministry of Finance will not prepare the plan for the privatization of the International Bank of Azerbaijan, and the Central Bank, in turn, will not take part in the process of its financial recovery.
Earlier in September 2021, President Ilham Aliyev signed a decree “On the transfer of an International Bank to the Office of Azerbaijan Investment Holding”.