FIMSA: Capitalization in banking sector continues

Baku. 16 March. REPORT.AZ/ The Government of Azerbaijan implemented a number of measures aimed at stabilization of situation after decline of oil prices in world market and collapse of national currency.

Report informs, chief of prudential policy and methodology department of Financial Market Supervisory Authority (FIMSA) Rustam Tahirov told at today's event on Azerbaijani banking sector organized by Fitch international rating agency.

According to him, first of all, determined frame for healthy borrowing and responsible lending transferred bank-customer relations to a new phase. Moreover, assets of banks have been assessed and new capitalization terms have been introduced: “Licenses of banks falling short of meeting requirements for capital investment have been revoked. Some banks have increased their stock capital; some others keep on the process. We expect the capitalization process to finish soon”.