Application of corporate standards is a long-term project. An expert of the Saving Bank Foundation for International Cooperation (SBFIC), Rayner Haberkorn, said that the application of such standards will take neither 2 nor 2 years in Azerbaijan.
The expert underlined that the application of corporate governance in the financial sector is very important for Azerbaijan with consideration of aspiration of the national banking sector to international integration.
The expert also noted that the question becomes more actual on amid the participation of foreign portfolio of investments in the capital of local banks.
"Integration in the international financial environment requires transparency which requires, the application of corporate governance standards,” the expert underlined.
He also noted that Azerbaijan has everything for implementation of the project, including human resources, and National Bank of Azerbaijan, which well realized the importance of the project.