Azerbaijan drafts a three-year strategy to develop banking sector

Azerbaijan drafts a three-year strategy to develop banking sector
# 24 September 2007 12:33 (UTC +04:00)
The National Bank of Azerbaijan is working out its strategic plans and a three-year strategy for development of banking sector in the country.
The board member Rufat Aslanli said the drafts are being discussed with representatives from banks.
He added that the minimum limit of the authorized capital for banks (AZN 10 million) is not enough.
“This amount is not sufficient for the pace of growth in banking sector. The market demands banks with higher capitalization. AZN 10 million is a low figure. The rise in bank capitals should keep pace with a 50-60% annual increase in assets,” he noted. /APA-Economics/

Politics

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THE OPERATION IS BEING PERFORMED