Bank Of Baku

New bank joins Azerbaijan Guaranteed Money Market

New bank joins Azerbaijan Guaranteed Money Market
# 27 October 2010 08:07 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. New member was selected to the Guaranteed Money Market segment in Organized Interbank Credit Market (OICM) of Azerbaijan.

According to BICEX the new member is Rabitababnk. Thus, the number of participants of segment reached 10.

Note that GMM is a segment of interbank credit market and the implementation of liabilities on loan operations is provided by Central Bank of Azerbaijan. CBA determines the trade limits submitted to banks. Decision on the changing of these limits is also determined by CBA. Interest rates are determined by the banks freely.
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