BAKU, Azerbaijan, November 1. The Central Bank of Azerbaijan is developing a state program for financial inclusion, CBA Executive Director Shahin Mahmudzade said at a press conference on the refinancing rate in Baku today, Trend reports.
"The document is currently undergoing approval. The inclusion initiative will undertake research focused on enhancing financial inclusion from multiple perspectives. Projects will be executed that delineate the responsibilities of various government institutions," said Mahmudzade.
The Central Bank of Azerbaijan has decided to keep the refinancing rate unchanged at the level of 7.25 percent.
According to the CBA, the upper and lower bounds of the interest rate corridor stayed the same at 8.25 percent and 6.25 percent, respectively, keeping everything on an even footing.
The next decision regarding the parameters of the interest rate corridor will be disclosed on December 18 of the current year.