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Azerbaijan to develop Code of Banking

04 November 2014 12:41 (UTC +04:00)

Baku – APA. Azerbaijani President Ilham Aliyev has issued an order on amendments to the Law “On Entrepreneurial activity”.

APA reports that according to the order, the Cabinet of Ministers is to draft proposals on conformation of the laws and acts of the President with a law on amendments to the Law “On Entrepreneurial activity” within three months and submit to the president, as well as, taking special significance of bank-crediting relations for entrepreneurship and regulation of this sphere by several laws into account, develop the draft Code of Banking within six months to submit to the president.

The Cabinet of Ministers is also to draft proposals on rationalization of inspections in entrepreneurship sphere and number of executive bodies conducting inspections within six months and submit to the president, control over conformation of normative legal acts of the central executive bodies with that law and inform the president within five months.

The Ministry of Justice is to provide conformation of normative legal acts and normative acts of the central executive bodies with the law on amendments to the Law “On Entrepreneurial activity” and inform the Cabinet of Ministers.