BAKU, Azerbaijan, January 22. The Central Bank of Azerbaijan (CBA) is not interested in the daily growth of lending from the perspective of developing the strategic sector, CBA Governor Taleh Kazimov told reporters, Trend reports.
Kazimov made the statement during a press conference discussing the parameters of the interest rate corridor.
“This year, we will introduce a number of innovations in the microfinance sector. We believe that the changes we have made to the rules regarding non-bank credit organizations will contribute to the development of the sector.
The rapid growth of daily loans is not in the best interest of the Central Bank. Both financial institutions and consumers can face significant risks. That is why we have raised the requirements in these areas, as they carry higher risks. The daily growth of lending is not in the interest of the Central Bank when it comes to the development of the strategic sector,” Kazimov said.
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