On 11 February, one of the biggest banks of Azerbaijan - PASHA Bank has received the status of a permanent member of International Chamber of Commerce, ICC.
ICC is a non-commercial international organization, who has been active in addressing the actual business development issues for almost 100 years. As an official partner of the G8 and collective consultative body for such organizations, like World Trade Organization, World Bank, European Bank for Reconstruction and Development and etc., ICC holds the status of the highest consulting body for the cooperation with UN and its specialized agencies.
According to Taleh Kazimov, the Board Member of the Bank, Chief Investment Officer (CIO), joining ICC has become an important event for PASHA Bank. ICC is business organization whose mission is to render assistance in international trade and investment, as well as to establish favorable climate for international business. This as a result contributes in increase of living standards on global scale.
"As we know, ICC carries out its mission through providing recommendations to government on policies, guidance and standards promoting stronger commercial ties between different countries. ICC is ready to work in close cooperation with representatives of business circles, governmental and legislative bodies of difference countries in determining the optimal solutions for complex tasks world economy faces. The organization has strong representation in all spheres of business, and is capable of fulfilling such tasks. Now, PASHA Bank can also make its contribution to the common work", Kazimov said.
In future, PASHA Bank will work on establishment of Azerbaijan national committee of International Chamber of Commerce - ICC Azerbaijan, and subsequently, on engagement of new members. Consequently, Azerbaijan companies and banks - partners of ICC - will, on equal terms with international partners, get an opportunity to actively participate in development of the guidelines and principles of international business based on requirements and challenges in their own country.
The national committees of International Chamber of Commerce headquartered in Paris, incorporate leading companies and business associations of more than 120 countries.
PASHA Bank was established in June, 2007 and operates under a license of the Central Bank of Azerbaijan dated Jan.28, 2007.
The bank, along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in the Pasha Holding Company which is actually an investment company, rather than a classic holding company.
Kapital Bank is also included in the structure of the Pasha Group.