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Finance Ministry granted additional powers of control over banks

Finance Ministry granted additional powers of control over banks

27 February 2016 12:43 (UTC +04:00)

This is according to the presidential decree dated Feb.26 on making an amendment to the decree on the rule of state involvement in control over banks and non-bank credit organizations which have state-owned shares in their share capitals, APA reported.

According to the amendment, the Ministry of Finance is now authorized to make a decision on signing a deal valued at 5 percent or more of the assets of the credit organization with the concerned person based on auditor's report.

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