JSC International Bank of Azerbaijan (IBA) has issued new interest rates on deposits of individuals.
Deposits can be placed for a period from 1 to 10 years. While the Financial Market Control House (FMCH) recommends that annual payments on dollar deposits should be at 3%, IBA in order to attract foreign currency, pays 3.25%, beginning from two years, and 5.75% on 10-year deposits.
The maximum payout on manat deposits is 11.75% (10-year), and the minimum is 8% (for 1 year).
JSC IBA with a capital of 1 billion 141.3 million AZN has operated under license of the Central Bank of Azerbaijan since 1992. Its main shareholder (51.07%) is the Government of Azerbaijan in the Finance Ministry's face, while the remaining 48.93% is held by numerous minority shareholders. --17D-
Economics
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