Baku hosting CIS Int'l Banking Conference

The conference will last till Oct. 16.

The conference will bring together key representatives of political and business elites of the CIS countries. The agenda of the conference will focus on the problems of stability of the CIS banking systems in terms of instability on world financial markets, as well as development of financial infrastructure as a basis for forming an integrated regional banking market of the Commonwealth, the prospects of forming a common currency area in the field of settlement and payment systems in the CIS.

The conference is organized by the Finance and Banking Council of CIS (FBC) under support of the Executive Committee of CIS, the Presidential Administration of Azerbaijan, International Bank of Azerbaijan and the VTB Bank.

The Council has been founded upon the initiative of leading financial and commercial institutions of the CIS member countries. The FBC has been established due to the need of the members of national financial markets to create favorable conditions for an effective action in the territory of the CIS countries, formerly belonging to a common economic area of the USSR.

The FBC assists in activating joint efforts to promote the banks, stock exchanges and other financial institutions, promotes trade and economic relations of the CIS countries, plays an important role in finding a prospective multinational projects and establishing an effective financial products.

The CIS FBC President is Andrey Kostin, vice-president - Jahangir Hajiyev, chairman of the coordinating council - Anatoly Kazakov, general manager of partnership - Pavel Nefidov.

/Trend Capital/