IBA to start application of Islamic banking in autumn

International Bank of Azerbaijan will made public the results of tender which announced for selection of Adviser Company for application of Islamic Banking, next week.

IBA says proposals of 4 companies (consortium of Ekvita & Islamic Finance Advisory Assurance Services», «Ernst & Young», «Baker McKenzie», «Pricewaterhouse Coopers», as well «Salans», «Pinsent Masons» and KPMG companies) have been adopted for assessment.

Bank says the tender winner will be determined next week.

Note that, IBA intends to start implementation of project from July 1 and application of Islamic Banking in autumn.


/APA/