Establishing single financial center for CIS states mulled in Baku
The International Bank of Azerbaijan (IBA) has played a role in developing relations between the economic entities of the CIS countries, IBA board chairman Jahangir Hajiyev said at the opening ceremony of the fifth Baku International Banking Conference of CIS member states on Thursday.
"IBA has contributed to the development of relations between the economic entities of the CIS countries, as well as their integration into CIS activity," Hajiyev said.
CIS Executive Secretary Sergei Lebedev said that a positive trend has been observed in the CIS activity for the past two years. Moreover, Azerbaijan's active position promotes the CIS countries' activity.
"At present, the issue of establishing a single financial center for the CIS countries is being discussed," Lebedev said.
He added that the financial center is planned to be established in Moscow.
Around 180 participants from 15 countries, including the CIS countries, are attending the conference.