IMF considering privatization of Azerbaijan International Bank necessary

The due announcement was made by Valeria Fichera, head of the IMF mission, paying a two day visit to Baku, at a press conference yesterday.

"As far as we know, the privatization of the bank's capital will finish in the second half of 2008. I think, the privatization of the bank should be initiated after it, as due lessons will be taken.

The reduction of the bank's share in the banking sector with the development of the banking sector in 2007 down to 40% is a positive development of situation. However, it still occupied dominating positions and we consider that the government will pass a decision on its privatization", the head of the mission said.

/Day.Az/