Important to regulate participants in Azerbaijani financial market via single mechanism
Baku, Azerbaijan, Oct. 4
By Eldar Janashvili – Trend:
The activity of new participants in the Azerbaijani financial market is expected to be regulated through a single mechanism, Trend reports on Oct. 4 referring to Chairman of the Azerbaijan Banks Association (ABA) Zakir Nuriyev.
Nuriyev made the remarks in Baku at the investment fair entitled "Microfinance Development in Azerbaijan". In his words, a corresponding bill is being prepared and is expected to be adopted in the nearest future.
“As many new participants such as FinTech companies and various financial service providers have recently appeared in the Azerbaijani financial market, the Association sees an urgent need to regulate their activity,” he said.
"It is very important to regulate all participants in the financial market through a single mechanism as different approaches to individual market participants in regulation lead to negative consequences," Nuriyev added.
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