BAKU, Azerbaijan, June 13. The process of opening bank branches is expected to simplify in Azerbaijan, President of the Association of Banks of Azerbaijan Zakir Nuriyev told the reporters, Trend reports.
According to him, work is underway in connection with amendments to the legislation.
"We expect the adoption of decisions in the financial sector of Azerbaijan that will simplify and accelerate the process of opening branches of banks, the cancellation of certification and transfer of data of commercial and non-commercial organizations with an annual turnover of more than 100,000 manat ($58,823) to credit bureaus in order to determine the debt burden of the population, which will further accelerate the process of crediting the population," he said.
Nuriyev believes that the expansion of the powers of the Central Bank of Azerbaijan will facilitate the work of banks.
"All measures will be aimed at increasing the flexibility of banks," he said.
Moreover, currency exchange processes will become more flexible as tourism develops in Azerbaijan.
"The new rules will allow currency exchange offices to work more flexibly on non-working days or in areas where banks do not work. This is important for the development of tourism," he said.