EUROPE/AFRICA

摘要

International bank of azerbaijan (IBA), the country's largest and the only state-owned bank, plans to issue US$200m-$300m of debut Islamic bonds this year, its senior manager told Reuters. The bank, 50.2% owned by the Ministry of Finance, holds 40% of banking assets in the country. Behnam Gurbanzade, IBA's director of Islamic banking, said the bank would issue sukuk in the second half of this year in order to widen its credit policy, develop business and attract alternative sources of financing. "We plan to develop Islamic finances in Azerbaijan as access to financial resources on the Western financial markets is not easy due to the current economic situation," Gurbanzade said.