Azerbaijan, Baku / Trend corr. I.Khalilova / The National Bank of Azerbaijan (NBA) has commenced the development of a new strategy for the development of the banking sector of Azerbaijan for 2008-2010, Rufat Aslanli, the deputy chairman of NBA, said.
The strategic plans of the NBA are currently being developed. New aims of NBA in the banking sector for the next three years will be defined in compliance with these plans, including further capitalization of the banking market, policy on participation in foreign banking capital and other aspects. The need to increase demands for minimum capital of banks will be outlined in compliance with the results of the discussions.
Aslanli considers that a yearly increase of banking assets by 50 to 60% will cause an increase in capital. In compliance with the previous program of capitalization the minimum amount of joint capital of each bank made up AZN 10mln at 1 July 2007.