Azerbaijani Banks Liven up Drawing of Foreign Capital
Azerbaijani, Baku / Trend corr I. Khalilova / Azerbaijani banks have livened up the drawing of the foreign capital from abroad, the head of the Bank Control Department of the National Bank of Azerbaijan, Adyshirin Gasymov, stated on the 18th of June at the Azerbaijani rating conference of the 'Raise of Transparency and Improvement of Access to the Capital'.
According to Gasymov, the funds are drawn in the form of credits and subordinated debts. The total amount of the attracted funds amounted to AZN 500mln in 2007, while in 2005 the amount made up AZN 137mln and AZN 444mln in 2006. The rating conference has been organized by ACDI VOCA and is financed by the US International Development Agency within the framework of the project on the support for development of financial sector via small-scale and middle-scale entrepreneurship.
The main purpose of the conference is the stimulation of issuance of international ratings by both banks and inter-bank credit organizations.