OREANDA-NEWS. On June 06, 2007 International Bank of Azerbaijan – Moscow (IBA-Moscow) received general license from Bank of Russia in connection with Bank’s activities expansion, reported the press-centre of IBA.

IBA-Moscow reported that the license has confirmed once more IBA-Moscow reliability and stability.

Before licensing IBA-Moscow underwent strict check by Bank of Russia for its activities conformity to valid laws, norms and rules, and complete assessment of its financial stability.

The general license will open access for IBA-Moscow to other countries’ financial markets and allow broadening its activities by raising additional international financial resources for investments in Russian economy, establish relations with foreign partners and counter-agents, open foreign branches, develop client basis due to foreign companies.

Availability of the general license lifts the last restrictions for IBA-Moscow and is an important step in making its work universal.

As Russian economy stabilizes and develops IBA-Moscow participates in crediting Russian enterprises having market prospects, renders actively services on financing corporate projects and raises international long-term financial resources.