WB to help deal with bad loans in Azerbaijani banking sector
Baku, Azerbaijan, Feb. 24
The World Bank (WB) and Azerbaijan’s Financial Market Supervisory Authority (FIMSA) start the implementation of second phase of the project on financial sector’s modernization.
Addressing the event dedicated to launching of the second phase’s implementation, Chairman of FIMSA Board of Directors Rufat Aslanli said that this project will cover three directions: formation of effective regulative framework for financial sector, increase sustainability of banking sector and protection of consumer rights.
Aslanli noted that the issues of bad loans, help for troubled banks and others will also be touched upon as part of the second direction.