The International Bank of Azerbaijan recently joined the Financial Services Industry Partnership of the World Economic Forum (WEF).

The WEF is an exclusive network of more than 70 banks, insurers, stock exchanges, rating agencies, asset managers and other capital market service providers.

"We are deeply honored to join global banking peers in the World Economic Forum's Financial Services Industry Partnership and a second decade of involvement with the forum," Jahangir Hajiyev, the chairman of the IBA, said. "The CIS and the Caspian regions have benefitted profoundly from the Forum's unwavering support and inspiration to business and government leaders.

"This directly helps us to assess challenges of systemic and sustainable economic development in tandem with social welfare and stability."

The IBA is Azerbaijan's largest bank and financial services group. It holds $10 billion in assets, helping to support and stabilize the country's banking system and socio-economic development. It also offers a full range of financial products and services to customers in Russia, Georgia and abroad.