CBA, IMF mull process of consolidation in banking system
Azerbaijan, Baku, Feb. 9 /Trend/
President of the Central Bank of Azerbaijan (CBA) Elman Rustamov received the head of the IMF mission in the country in Baku today, Nadeem Ilahi , the CBA reported.
The bank reports that at the meeting the sides discussed the economic results of 2010 and priorities for 2011, including the macroeconomic situation, the state of the banking sector, and the CBA's exchange policy.
Ilahi stressed the economic growth observed in the country, the CBA's role in economic development of the country, and economic diversification.
Rustamov informed in detail about the development of Azerbaijan's banking sector last year, mid-term and long-term strategies of the CBA's exchange rate policy, as well as macroprudential and supervisory measures conducted in the country to enhance financial stability.
The meeting also exchanged views on improving risk management in banks, and consolidation in the banking system.