WB, Azerbaijan mull problems of banking sector
Baku, Azerbaijan, Nov. 15
By Anvar Mammadov – Trend:
The reforms conducted in Azerbaijan created an opportunity for the country’s banking sector to exit the crisis, said Vusal Gasimli, executive director of the Center for Analysis of Economic Reforms and Communication.
He made the remarks during a roundtable meeting with the World Bank, said the сenter in a message Nov. 15.
Gasimli said the financial and banking sector should play a more important role in the diversification and long-term development of the country's economy, as well as in protecting macroeconomic stability.
Head of Azerbaijan Banks Association Zakir Nuriyev, who also took part in the event, told Trend that the WB representatives shared international experience in resolving the problems of the banking sector.
“Сhanging the rules and legislation was touched upon and a number of possible solutions were suggested,” said Nuriyev, adding that it is up to the Azerbaijani side whether to accept these proposals or not.