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BAKU, Azerbaijan, October 3. Azerbaijan’s banks
are prepared for extra versatile regulation and help for sustainable
growth, the chairperson of the Central Financial institution of Azerbaijan
Taleh Kazimov stated at a roundtable on “Creating the Freeway for
Personal Finance” at ADA College inside the framework of the
Local weather Motion Week, Development experiences.
“We’re offering a number of capacity-building grants for monetary
establishments. Provided that 5 p.c or extra of the prices of the
monetary sector are shared by banks, by the tip of this 12 months, I’m
assured we will cut back the regulation of the bond
marketplace for actual sector public service suppliers. It will optimize
financing channels,” he stated.
Kazimov famous that the Central Financial institution is working to cut back the
regulatory burden to facilitate the transition to extra versatile
administration.
“In July, we introduced new measures that can help the
transition. These steps ought to construct confidence within the monetary
sector and enhance transparency in operations. We’re actively
participating with the Sources Committee to develop market threat
administration practices and make sure the stability of the monetary
sector. That is vital as a result of with out sustainable monetary
stability, the sector won’t be able to adapt its controls and
successfully implement new measures. Our goal is to keep up
monetary stability and obtain constructive adjustments for the good thing about
all market individuals,” Kazimov emphasised.
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