Establishment of construction-saving banks in Azerbaijan to be supported

Establishment of construction-saving banks in Azerbaijan to be supported
# 13 December 2012 08:54 (UTC +04:00)

Baku. Ali Ahmedov - APA-Economics. Azerbaijani government intends to support establishment of construction-saving banks, said the Development Concept “Azerbaijan-2020: View of the future”.

According to concept, the measures, to be taken by 2020, will provide balanced development of main segments of financial services markets in Azerbaijan (banking sector, non-banking organization, insurance market, leasing market, securities market and factoring market). During this period, bank supervisory instruments will be improved, relevant measures will be taken for provision of stable and safe development of banking system.

Consolidation measures and structural reforms will be continued in banking sector, stimulation of competitiveness, increase of quality of banking-financing services, as well as e-payment systems improvement and extension of its covering will be paid attention.

Concept says bank capitalization will be continued, extension of regional banking network will be promoted. Besides, establishment of construction-saving banks will be supported.

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