BAKU, Azerbaijan, May 3. The Central Bank of Azerbaijan plans to approve a new financial sector strategy by mid-2023, Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during a press conference on changes in the parameters of the interest rate, Trend reports.
The CBA has raised the interest rate from 8.75 percent to nine percent. The upper limit of the interest corridor was raised from 9.75 percent to 10 percent, and the lower limit - from seven percent to 7.5 percent.
According to Kazimov, this strategy is being developed with international partners and will cover the transformation of the CBA, a new model for the development of banking and non-banking organizations.
This strategy is being developed with international partners and will cover the transformation of the CBA, a new model for the development of banking and non-banking organizations, according to him.
"The strategy will cover issues related to banks and non-banking organizations, participants in the insurance sector, developers of financial technologies, as well as issues of internal transformation of the CBA," he said.