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Azerbaijan National Bank to complete analyzing situation in banking sector related with fulfillment of joint capital requirements

Business Materials 22 July 2006 14:54 (UTC +04:00)

The National Bank of Azerbaijan has started diagnostic inspections in several banks. The inspections aim to define the quantitative and qualitative parameters of bank capitals, Rufat Aslanli, director-general of National Bank, told Trend. According to the normative requirement of the bank, the joint capital of each bank in Azerbaijan should be in amount of AZN 6.400 mln.

According to Aslanli, within near weeks, an accurate definition will be made, as well as the analysis of bank sector will be held. Then the results of analysis will be submitted to the board of National Bank where the final decisions will be made.

According to schedule confirmed by National Bank, the next normative requirement fixed for 1 January 2007 will be in amount of AZN 8.200 mln and 1 July 2007 the joint capital of banks should be no less than AZN 10 mln.

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