PASHA Holding

PASHA Holding is an Azerbaijani conglomerate.[2] Its major holdings are Kapital Bank (81.08%)[3] and Pasha Bank (71.7498%).[4][5] It is owned and controlled by the Pashayev family, of which Vice President and First Lady Mehriban Aliyeva (née Pashayeva) is a member.[6] Aliyeva's daughter Leyla and Arzu inherited the company in 2013 when her father retired.

PASHA Holding LLC
Company typePrivate company
IndustryFinancial services
Founded2006
HeadquartersBaku, Azerbaijan
Area served
Azerbaijan
Turkey
Georgia
Montenegro
Key people
Jalal Gasimov, CEO[1]
Services
Total assets AZN 11.9 billion (2019)
Total equity AZN 2.6 billion (2019)
Number of employees
8500+ (2019)
Websitehttp://www.pasha-holding.az

The company has been embroiled in high-level corruption in Azerbaijan.[2] The company built the Four Seasons hotel in Baku, which involved destroying part of the Baku Fortress Wall of the Inner City.[2]

Among other subsidiaries are Pasha Insurance, Pasha Life and many others.[2][7] The company operates in Azerbaijan, Turkey, Montenegro, Uzbekistan and Georgia.[7] Pasha Holding owns a 50% stake in the Mandarin Oriental Bodrum Hotel.[8][9]

References
  1. "PASHA Holding website".
  2. Altstadt, Audrey L. (2017). Frustrated Democracy in Post-Soviet Azerbaijan. Columbia University Press. pp. 126–127. doi:10.7312/alts70456. ISBN 978-0-231-70456-4. JSTOR 10.7312/alts70456.
  3. Kapital Bank. "About Kapital Bank - Section Shareholders".
  4. KAP Public Disclosure Platform. "KAP Public Disclosure Platform Merkezi Kayıt Kuruluşu AŞ".
  5. Turkey, Fortune (3 May 2024). "Pasha Bank, Türkiye'deki Faaliyetlerini Güçlendiriyor | Fortune Turkey" (in Turkish). Retrieved 28 May 2024.
  6. Babali, Hafiz; Ismayilova, Khadija (24 March 2017). "Nowhere To Be Found: Firms With Official Ties Absent From Key Azerbaijani Registry". Radio Free Europe/Radio Liberty.
  7. Pasha Holdings. "Group Structure".
  8. "Azerbaijan's PASHA Holding confirms acquiring stake at Türkiye's largest hotel". Trend.Az. 13 January 2023. Retrieved 28 May 2024.
  9. alice (28 February 2023). "Revealed: Aliyev family's holding bought 50 percent of a luxury hotel in Bodrum". MEYDAN.TV. Retrieved 28 May 2024.
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