Commission for credit unions established under CBA
Azerbaijan, Baku, June 4 / Trend N. Ismayilova /
The Azerbaijani Association of Credit Unions and the Central Bank of Azerbaijan create a commission to solve the problems of credit unions, chairman of the association Elchin Bahirov said at the last general meeting.
"The Association intends to proceed with the preparation of the bill, under which credit unions will be allowed to deposit by joining international experts, including from the World Council of Credit Unions", he said.
He said that the association is working intensively with the CBA. Today the process of establishing a commission for central banks on credit unions has already begun.
"The commission will consider the proposals put forward by the association and bills," he said.
At present, the number of its members hit 60 credit unions (14,000 shareholders). The association became the first member of the new affiliate with membership category WOCCU, specially developed for adoption by the Board of associations of credit unions that do not have enough financial means to access the full-fledged membership in the organization.