OREANDA-NEWS. November 06, 2008. The International Bank of Azerbaijan (IBA), the biggest bank of Azerbaijan, is ready to expand its presence at the Persian Gulf countries’ markets, reported the press-centre of IBA.

IBA chairman of board Jahangir Hajiyev said that they are planning to open a subsidiary bank in Qatar.

‘Probably we will be licensed for activity in Qatar in 2009,” J.Hajiyev said.

Besides, the IBA is planning official opening of its representative office in Dubai in November.

“Construction there is under completion,” J.Hajiyev said.

Presently the IBA representative offices are operating in Frankfort (Germany), London (UK), and Luxembourg.