Russia's MBA-Moscow bank, a subsidiary of the International Bank of Azerbaijan, has announced the launch of a new service for clients.

The Multi-Family Office Prestige Club for private banking customers will open a new site aimed at helping families with multidisciplinary management of tangible and intangible assets.

Clients of the program will be offered additional services including consulting, tax planning and alternative investments.

"We believe that the provision of services to our customers on a Multi-Family Office, Private Banking supports a new and important phase in our development," Executive Director Fagan said. "In this regard, in order to offer quality services to customers, the bank is cooperating with international companies specializing in this field, and this field of activity is going to grow more and more."

The International Bank of Azerbaijan is the state-controlled bank operating in the Republic of Azerbaijan. Headquartered in Baku, the bank consists of 36 branches and 95 service outlets in more than 40 cities.