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Analytic journal about development of banking systems of CIS countries drafted

02 September 2010 13:42 (UTC +04:00)

Baku. Vahab Rzayev â€“ CIS Financial-Bank Council and Interfax Group draft analytic journal â€œbanking system of community countries â€“ 2005-2009â€. The journal is planned to be concerned to the opening of 3rd International Conference about â€œFinancial Institutions â€“ Basis of Structural Modernization of CIS countriesâ€™ economyâ€ on October 20-23, Baku.

Director on Corporate development of Interfax Group Michael Matovnikov analyzes the development process of CIS banking systems during last 5 year in his â€œCIS countries on the threshold of changesâ€ report. At the same time he shows the growth rate of assets and says the Azerbaijan is a leader of community countries.

Generally, the growth rate of banking systems in CIS countries exceeds the growth rate of GDP. Report says the CIS financial institutions will operate in the different regulating conditions after the crisis. Because of the crisis have different impacts on banking systems. Regulating bodies of all countries understood that the quick development of banking system is connected with not only increasing opportunities but serious risks which related with economy of country and state budget.

Besides, problems influence the other segments of financial market. According to author bank regulators still improve their normative bases but it is known that wide international corporation is inevitable. According to all objective causes, the integration of CIS countriesâ€™ banking systems will be strengthened and new opportunities and specific risks will be created.