On January 24 of this year, Laziz Kudratov, the Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, held discussions with Abbas Ibrahimov, the Chairman of the Board of the International Bank of Azerbaijan (IBA). They focused on potential collaboration in the banking, investment, and financial sectors.

New and intriguing avenues for collaboration were presented to the Azerbaijani side, particularly regarding the privatization program, initiatives for the provision of new types of banking services, and significant projects for joint financing.

Abbas Ibrahimov commended the efforts made in recent years to enhance the investment climate and digitalize the banking system in the country. He also expressed his willingness to engage in investment projects in collaboration with local banks and fintech companies in Uzbekistan.

Following the meeting, the parties reaffirmed their mutual commitment to developing their relationship and established a framework for collaboration to ensure the successful implementation of the agreed-upon initiatives.

For reference, the International Bank of Azerbaijan was established in 1992 in Baku. Currently, it is one of the leading banks in the South Caucasus region in terms of assets, client base, and portfolio of international operations. IBA boasts an extensive network that includes 74 branches and 10 outlets located in various regions of Azerbaijan. It serves approximately 16,000 legal entities and over 2.2 million individuals.