Azerbaijan to adopt new decisions over Bank Ombudsman

Baku. 23 November. REPORT.AZ/ A number of new decisions will be made in the near future regarding Bank Ombudsman in Azerbaijan.

Report informs, Vahid Ahmadov, Member of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, said speaking at the 2nd Banking Forum in Baku.

According to Ahmadov, income from non-oil sector is not sufficient for formation of the state budget: "Therefore, our state budget will still depend on oil and gas revenues".

Lawmaker added that merger of banks is more important than their closing: "The process in the Turkish banking sector in 2001 did not happen suddenly. This process also began recently in our country and it will take a while to finish. Of course, it must be supported".

"We should admit that banking system is in crisis", he added.