Baku. 25 November. REPORT.AZ/ The stakeholders of insolvent banks are not interested in consolidation.
Report informs, head of legal provision department of Financial Markets Supervision Chamber (FMSC) Nurlan Babayev told at second day meeting of the forum "Banking prospects in the post-oil period” held in organization of the Azerbaijan Banks Association (ABA).
According to him, the reason is Azerbaijani banks haven’t developed corporate culture to unite: "That’s why we prepared draft of amendments to the Law "On Banks’. The bill envisages wider authority for temporary administrators assigned to insolvent banks, including sale of healthy assets to other banks, conduction of rehabilitation works with received funds, and cancelation of banks’ license, only if above measures doesn’t give result”.