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Central Bank of Azerbaijan prepares proposals for improvement of security deposit mechanisms in banking sector

Central Bank of Azerbaijan prepares proposals for improvement of security deposit mechanisms in banking sector

22 October 2011 10:48 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. The Central Bank of Azerbaijan prepared proposals for improvement of security deposit mechanism in the countryâ€™s banking sector, the bankâ€™s CEO Rashad Orujov told journalists.

The proposals were submitted to the government. â€œWe hope the project will be considered soon. The package also contains proposals for amendments to mortgage law, Civil Code and other legislative actsâ€.

Orujov said these proposals considered improvement of the process of realization of secured asset and reducing the realization term, including legal procedure, to 7-8 months.

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