www.businessislamica.com -The International Bank of Azerbaijan (IBA) and Russia’s VTB Bank plan to invite one of Kazakhstan’s leading banks to form the United Islamic Bank of the CIS, Trend cites Bekham Gurbanzade, head of a working group of the IBA.
Baku hosted the Fourth International Bank Conference of CIS States in early December 2011. The VTB and IBA made agreements. The Russian bank will use the experience of Azerbaijani specialists and consultants in Islamic banking, Azerbaijan will use the experience of the VTB. Efforts were united within the framework of the Financial and Banking Council of the CIS. (source)
Source: http://businessislamica.com/2012/04/05/russian-azerbaijani-and-kazakh-banks-to-form-a-united-islamic-bank/ - April 6, 2012
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