TODAY.AZ / Business

Azerbaijan Investment Company and Kuwait Finance House set up investment group

26 May 2007 [13:24] - TODAY.AZ
Azerbaijan Investment Company and Kuwait Finance House have signed a memorandum of understanding. AIC press service told that the document envisions establishment of an investment organization which will finance a number of joint projects in Azerbaijan.

The new organizations will be owned by Azerbaijan Investment Company (25%) and Kuwait Finance House (75%).

Established in March 30, 2006 by a presidential decree, the 100% state owned Azerbaijan Investment Company is the main state investor in the country, APA reports.

Kuwait Finance House (KFH) was established in the State of Kuwait in 1977, as the first bank operating in accordance with the Islamic Shar'a.

URL: http://www.today.az/news/business/41361.html

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