Azerbaijan’s Central Bank proposes to create mechanisms for restructuring banking sector

  29 December 2017    Read: 586
Azerbaijan’s Central Bank proposes to create mechanisms for restructuring banking sector

The Central Bank of Azerbaijan (CBA) has announced the need to create special mechanisms for restructuring the banking sector, the CBA said in the statement on the main directions of the monetary policy for 2018 and the medium-term period, published on its website Dec. 29.

The CBA stresses that work will be carried out to address the problem of non-performing loans, restore and strengthen the financial stability of banks.

"The program for restructuring the banking sector must be supported by complimentary measures to regulate non-performing debts,” the CBA said. “In this regard, special mechanisms must be prepared taking into account the international experience, features and limitations of the country."

“Such an integrated approach will strengthen the banks' capital position, expand healthy lending, increase credit activity and ensure economic growth," the CBA said.

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