OREANDA-NEWS. July 28, 2009. The largest bank of the country, the International Bank of Azerbaijan does not abandon its plans to open own structures abroad, reported the press-centre of IBA.

As Jahangir Gadjiyev, Chairman of Board of IBA has informed the Fineko/abc.az, bank maintains plans for opening of its representations and subsidiary structures abroad.

"Specifically these are our plans for Qatar. At this time we develop the documents to open the subsidiary bank in this country. Most likely, Pricewaterhouse Coopers will be invited to do this task. Most likely the official application for opening of the subsidiary bank in Qatar will be submitted in 2010. There are 4 levels of approvals for opening of subsidiary structures in Qatar. We want to overcome several steps to submit the application for opening of the subsidiary bank", - said J. Gadjiyev.

In accordance with legislation of Qatar the capital of the subsidiary bank cannot be less than 250 thousand USD, but IBA has not yet made the decision on the level of capital of the subsidiary bank, which it intends to open in the country.