Azerbaijani Central Bank publishes main directions of bank control for 2010

Azerbaijan, Baku, May 7 / Trend N. Ismayilova /

Stress tests conducted by the Central Bank of Azerbaijan showed that the country's banking system is stable against possible external shocks, the report said. The status of the monetary policy implemented in the first quarter, the further challenges, as well as report of structural offices of the bank were discussed at the meeting.

It was noted that inflation targeting, which is the main objective of monetary policy, was at one-digit level in the reporting period. Basically, it subjected only to such factors as the processes occurring in foreign markets, inflation in the countries - trade partners of Azerbaijan and the seasonal factors.

In terms of balance payment surplus rate of manat against the U.S. dollar remained stable. Realizing the sterilization operations in the foreign exchange market, the bank further increased its foreign reserves. By the end of the year it is planned to get a large amount of surplus in balance of payments.

For the reporting period, the bank continued implementation of a soft monetary policy. In these circumstances, adequate money supply increased in relation to the economic growth rate, and interest rates showed the propensity to fall. During the first quarter, assets of the banking sector increased by 3,1 percent, the credit portfolio - at one percent. The report also highlights the growth of public confidence in the banking sector, the increase in deposits during the same period at 2.5 percent. Banks attracted foreign borrowing more than paid the obligations. Their liquidity and financial stability maintained at a high level.

Taking into account all these factors, the bank's board considered it appropriate to maintain the rate at a stable level, the rate of percentage and obligatory norms of reserve, as well as the continuation of policy aimed at maintaining a stable exchange rate of manat. During the reporting period, the banking sector preserved stability, bank rates increased, liquidity and capitalization are at stable and satisfactory level.

The banking supervision has the objectives, including enhancing of the capacity of risk management in banks, adaptation to global calls in new conditions, strengthening the monitoring of technological resources, institutional development of the sector and expansion of access to financial services.

During the meeting, they discussed progress in using of countercyclical approach in banking supervision, the introduction of new prudential reporting, improvement of the experience of stress testing, towards the adoption of new regulations on risk management, realization of the second phase of the certification process of banking specialists in risk management, realization of the project to introduce information management system for banking supervision and other projects.

It was recommended to continue measures to implement the policy of effective and efficient bank supervision and maintain the financial stability of the banking sector, including the execution of projects aimed at institutional development.

Turkmengas opens tender for maintenance of gas turbine generators
Turkmengas opens tender for maintenance of gas turbine generators
The President of Turkmenistan receives representative of medical community of Germany
The President of Turkmenistan receives representative of medical community of Germany
Turkmenistan committed to promoting socio-economic development of Afghanistan
Turkmenistan committed to promoting socio-economic development of Afghanistan
Loading Bars
Latest
Number of COVID-2019 cases across globe up by over 564,000 in past day
Employment in Iran's Bushehr Province enlarges
Average yield of tobacco in Azerbaijan in 2020 exceeds last year volume
Iranian Energy Exchange announces products to be on sale November 30
Weekly review of events in financial market of Azerbaijan
Norway calls on all political parties to enable new, more diverse parliament in Georgia
Turkey condemns killing of key Iranian nuclear scientist as act of 'terrorism'
Argentine prosecutors investigate death of soccer star Maradona
Performances results of Azerbaijani gymnasts at European Championships in rhythmic gymnastics unveiled
Iran reveals details of exports through Bandar Lengeh County
Projects within Industrialization Map framework being implemented in Kazakhstan's Akmola
Overview of events in agricultural sector of Azerbaijan for last week of November
Activities on provision of Russian peacekeeping contingent held (PHOTO/VIDEO)
Iran boosts manufacturing of passenger cars
UAE cabinet approves new cybersecurity body, climate change envoy
Geostat reveals volume of ferroalloys exported by Georgia to Turkey
Bahar Azadi gold coin price still falling in Iran
Kazakhstan continues introduction of mobile diagnostic tools in railway sector
Azerbaijan, Uzbekistan discuss possibilities of attracting investors to Azerbaijani territories liberated from occupation
Britain expects 'very significant' week for Brexit talks as clock ticks down
Iran declares cargo transportation from Sistan and Baluchestan Province
Death toll from COVID-19 tops 172,000 in Brazil
Chinese companies to process Uzbek garlic for further export to US and European countries
Turkey's export of grain, legumes to France declines
Iran reveals its COVID-19 data for November 29
Details of Iran’s trade turnover announced
EU aims to support Georgia in its efforts to reform electricity market
Azerbaijan confirms 4,170 new COVID-19 cases, 1,985 recoveries
5.5-magnitude quake hits Vanuatu
Azersu LLC announces tender for purchase of equipment for laboratory
Kazakhstan's import of Turkish cement up
Azerbaijan shows footage of Aghdam's Shahbuldag village (PHOTO/VIDEO)
Expenses on construction of enterprises in Iran’s Isfahan Province increases
Number of enterprises launched in Iran's Ilam Province shrinks
Turkmengas opens tender for maintenance of gas turbine generators
At least 30 police killed, over 20 wounded in suicide car bomb explosion in E. Afghanistan
Georgia reports 4 426 new coronavirus cases, 3 721 recoveries, 35 deaths
Over 5,500 patients recover from coronavirus in Moscow in the past day
Azerbaijan shows footage of liberated from occupation villages of Kalbajar region (PHOTO/VIDEO)
China increases import of Turkish cars
Employment in Iran's Alborz Province declines
The President of Turkmenistan receives representative of medical community of Germany
S. Korea reports 450 more COVID-19 cases, 33,824 in total
Azerbaijan's turnover on payment cards in 10M2020 up
Inter-Agency Coordination Council discusses enforcement of Covid restrictions
Azerbaijan has ample opportunities and potential for artificial intelligence dev't
Trump may announce plans for 2024 presidential race during Biden’s inauguration
826 more coronavirus cases recorded in Kazakhstan over 24 hours
France sees further fall in COVID-19 hospitalizations as lockdown exit starts
Turkey's Temsa makes 1st electric bus exports to Sweden
Iran registers monthly positive trade balance
Scottish dev’t agency eyes establishing co-op with companies in Uzbekistan’s Karakalpakstan
Croatian PM in self-quarantine after wife contracts COVID-19
UK records another 15,871 coronavirus cases with 479 deaths
Some 46,000 people gather in Paris to protest against security bill
Kazakhstan to modify large energy saving projects on railways
Severe fire danger for Australia as temperatures smash records
Dozens of Boko Haram militants killed in Nigeria airstrikes
Pope installs new cardinals, including first African-American
WHO reports new daily record high of over 747,000 COVID-19 cases
UK police arrest 155 in anti-lockdown protests in London
Assistant to Azerbaijani president posts footage from Tartar, Aghdam cities
UK, France sign new deal to stop illegal migration across Channel
Iran discloses electricity generation at Iran's Bandar Abbas TPP
Turkey reports 6,714 new COVID-19 cases, 487,912 in total
Zarif: Iran at forefront of fighting terrorism
Georgia takes necessary steps to avoid increase in bread prices
Ethiopian military has taken 'full control' of Tigray capital, government says
Iran’s Bahar Azadi gold coin price continues to fall
Weekly review of Azerbaijani precious metals market
Kazakhstan raises import of grain, legumes from Turkey
Buy/sell operations at Iran Mercantile Exchange revealed
AP publishes article covering Armenian missile attack on Azerbaijan’s Ganja on Oct.17 (PHOTO/VIDEO)
OIC adopts resolutions in connection with Armenia's aggression against Azerbaijan
President, members of Board of European Muslim Forum send letter to President Aliyev
Aghdam district of Azerbaijan after 27 years of Armenian occupation (VIDEO)
Kazakhstan to bring waste processing level to average European level
UK appoints minister in charge of COVID-19 vaccine rollout
Number of blocked malware in AzStateNet network drops
Airport in Uzbekistan to buy auto parts via tender
Iranian Energy Exchange announces products to be on sale November 29
Azerbaijani team takes third place in group exercises at 36th European Rhythmic Gymnastics Championships
At least 6 killed in Somali capital suicide bombing
Microsoft Azerbaijan to support all initiatives in liberated territories of Azerbaijan
Azerbaijan shows footage of Kalbajar's Vang village (VIDEO)
Police fire tear gas at Paris protest against police violence
Electricity imports growing in Georgia
Cargo, passenger traffic via Turkish Sabiha Gokcen Airport slumps amid pandemic
Uzbek-Korean JSC Uz-Dong Won Co. announces tender for steel pipes supply
Cargo transportation at Turkish Antalya airport reduces
Austria records nearly 1,000 COVID-19 deaths over past 10 days
State Employment Agency of Azerbaijan opens tender on supporting start-up projects
Results of Azerbaijan's junior national team performance at 36th European Rhythmic Gymnastics Championships announced
Details of Iran’s exports to Iraq declared
Azerbaijan reports 4,212 new COVID-19 cases, 1,760 recoveries
Four citizens dead as result of mine exploding in Fuzuli - Azerbaijani Prosecutor General's Office
Kazakhstan's export volumes to China surge despite COVID-19
Assistant to Azerbaijan's president, diplomats, Garabagh FC representatives visit Aghdam Mosque (PHOTO)
Turkmenistan committed to promoting socio-economic development of Afghanistan
Georgian oil companies seek to avoid price increases
All news