Development of Azerbaijan's financial sector discussed with IMF

Baku. 1 March. REPORT.AZ/ Head of Financial Markets Supervision Authority (FIMSA) Rufat Aslanli received International Monetary Fund (IMF) delegation led by head of Azerbaijan mission Muhammad al Gorchi.

Report was informed in the FIMSA.

According to information, talking about continuation of successful cooperation between both institutions, Rufat Aslanli told that he highly appreciates IMF support and recommendations to the FIMSA for improvement of sustainability of financial sector. The sides talked over measures taken by the FIMSA towards improvement of financial stability of banking and insurance sectors. Underlining the rehabilitation of banking sector as one of priorities of FIMSA operations, R.Aslanli informed IMF that stabilization tendency is observed in banking sector as a result of conducted restructuring measures.

At the same time, the visiting side was informed on phased implementation of action plan aimed at revealing and eliminating perils in insurance sector.

Muhammad al Gorchi reiterated support of institution represented by him for measures implemented in banking and insurance sectors, and expressed his confidence in significant impact of this steps on financial sector.