Today.Az » Business » President Aliyev issues decree on privatization of Kapital Bank
09 February 2007 [22:37] - Today.Az
President Ilham Aliyev has Friday issued a decree on privatization of state-owned Kapital Bank.
As per the decree, newly issued stocks will be floated in five equal settlements to double the authorized capital of the Bank.
State Committee for Public Property Management was instructed to determine criteria and terms for a competition to choose buyers in accordance with banking legislation and proposals of consulting company together with Finance Ministry and National Bank.
The package of stocks will be sold according to the terms and criteria to be set.
Under presidential decree dated March 1, 2005, the authorized capital of Kapital Bank will be doubled (to AZN 24mln), appraisal works will begin to prepare for privatization. APA