Need remains to transfer Aqrarkredit Azerbaijani non-bank organization into bank
Azerbaijan, Baku, Oct. 9 /Trend A.Akhundov/
Need remains to transfer Aqrarkredit state non-bank credit organization into a bank, the director general of Azerbaijani Central Bank Rashad Orujev noted.
"This goal remains, possible ways of its settlement are currently being discussed. The Central Bank is ready to consider this proposal, but it hasn't been made yet," Orujev reported Trend on Tuesday
In his words, government decision is necessary to establish such bank.
"The form of establishment has to be discussed. As far as we know, the consultations are currently being held," Orujev added.
According to administration member of Aqrarkredit Suleyman Kalashev, the conversion issue of Aqrarkredit is still current.
"We believe there is a need in such a specialized bank. There are such banks in many countries. Work in this field is conducted, however this issue has to be settled at government level," he said.
Azerbaijani Ministry of Finance is the general shareholder of Aqrarkredit, owing 99.9 percent of credit organization's shares, the rest of shares are distributed between 'Azersigorta' State Insurance company and Irrigation and water management company.