Azerbaijan, Baku, Feb.4. / Trend N. Ismayilova /
Azerbaijan is preparing new draft law on credit cooperatives, said in a statement by the Azerbaijan Credit Unions Association reported today
"The law on credit unions was adopted in Azerbaijan in 2000, but the adopted law is to be worked out and the new law should meet international standards," the Association said
The government decided to adopt a framework law on cooperatives, taking this into account.
At present the relevant agencies are developing bill on credit cooperative (financial cooperatives)
Adopting these laws will have a positive impact on raising rural employment, food security and the provision of financial services to the population living in the suburbs.
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