OREANDA-NEWS. September 29, 2009. Azerbaijan’s AGBank is ongoing the process of raising foreign financing.

AGBank’s chairman of board Azer Movsumov says that the Bank has already launched consultations about financing by the Islamic Corporation for Development of Private Sector.

“We are still at early stage of consultations. The Bank transferred an inquiry of co-operation and information about itself to the Corporation, but the business has not approached yet to detailed negotiations. At the same time ICD’s conditions are very attractive and I think we are going to co-operate with it,” Movsumov said.

Currently ICD has been co-operating with 7 local banks.