The International Bank for Economic Co-operation, established in 1963, is headquartered in Moscow, Russian Federation.
The Bank's member countries are: the Republic of Bulgaria, the Socialist Republic of Vietnam, Mongolia, the Republic of Poland, the Russian Federation, Romania, the Slovak Republic and the Czech Republic.
In accordance with a decision of the IBEC Council the Bank's balance sheet is being kept in euros. The IBEC's authorized capital is 400 million euros, and its paid-up capital is 187 million euros.
The Bank has a broad network of correspondent banks in the IBEC member countries as well as in other countries. The charges for the services provided by the Bank is on a level with the standards accepted in international banking practice. The payment orders are effected within 24 hours.
The IBEC guarantees confidentiality in respect of its customers' accounts and deposits.