Azerbaijan, Baku, May 20 / Trend, E. Aliyev /
Statistical calculations of the Central Bank of Azerbaijan (CBA) have been brought into conformity with the standards put forward by the guidelines for the Monetary and Financial Statistics of the International Monetary Fund (IMF).
"So, a new classification of balance sheet accounts was formed on the basis of a new format of the balance sheets and a scheme of transition from old to new accounts was established," the CBA said on Friday.
The need for this arose after the Audit Plan for Azerbaijan's banking system entered into force in January 2013 and the transition from a four-to five-digit format occurred.
"This work helps to bring the bank reporting to the international standards, increase coverage and transparency of monetary and financial statistics."