Approval of proposal by International Bank of Azerbaijan

The following press release was published by the Board of Governors of the Federal Reserve System on July 31, 2008. It is reproduced in full below.

The Federal Reserve Board on Thursday announced the approval of an application by International Bank of Azerbaijan, Baku, Azerbaijan, to establish a representative office in New York, New York.

Attached is the Order relating to this action.

Source: Board of Governors of the Federal Reserve System