​Central Bank: Active dialogue with banks on lower interest rates will continue

Baku. 13 October. REPORT.AZ/ Empowerment lending will be still focused in Azerbaijan in 2016. New initiatives on converting from small and medium-sized enterprises to funding sources will be presented. An active dialogue with banks on lower interest rates will be continued.

Report informs, Chairman of the Central Bank Elman Rustamov said at today's meeting of Milli Majlis.

He noted that the expansion of mortgage lending is also a priority: "To date, through the Mortgage Fund 17 500 families have received loans worth over 700 million AZN. The Bank also provides mortgage loans worth over half a billion AZN. The employment level rises at the expense of real estate. From this perspective, the revival of the mortgage is important. The central bank introduced proposal consulted with the Ministry of Finance. This refers to the increase in total loans and lower interest rates."

The Chairman also noted that steps were being taken to improve the deposit insurance system: "There is an extension of the system scope."