Azerbaijan, Baku, Feb.12 / Trend corr N. Ismayilova / Bank Standard is ready to take control over the half of state reserves should shares of exchange reserves are placed in local banks, senior deputy chairman of the bank Javid Guliyev said on Feb.12.
The National Bank of Azerbaijan (NBA) will set the terms on placing exchange reserves in local banks.
"Of course, it's up to the NBA to make the choice but Bank Standard is one of country's backbone banks and I am sure that this bank will partake in all initiatives of the government and the NBA," Guliyev said.
Cooperation with Ernst & Young company and introduction of software T24, developed by Swiss company Temenos Group, will assist the bank to effectively control banking risks.
"We worked over the improvement of risk-management bloc, credit risks control, adopted new credit policy, defined basic parameters of credit risks control system and introduced new software. Therefore, I think Bank Standard is ready for this process," Guliyev said.
The official currency rate of $1 is 0.8065 manats on Feb.12.
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