New non-bank financial institutions will be established in Azerbaijan

Baku. 17 December. REPORT.AZ/ Financial institutions, particularly banks will be recovered, problems with liquidity and capitalization solved and operating assets restructured until 2020.

Report informs, citing clauses of “Strategic Road Map” concerning development of financial services in the Azerbaijan Republic.

Necessary conditions for participation of issuers and securities of investors in the market will be provided, the infrastructure will be expanded.

By 2025, sector of financial services will be organized of strong and diversified financial institutions. Moreover, consolidation processes in financial sector will be accelerated, difference between financial footings of banks will be decreased. As a result, the banks will grow, service portfolio will be diversified and new non-bank financial institutions will be created. Additional loaning production provided by new non-bank financial institutions will create alternative options for consumer loaning and stimulate competition in the sector. New types of loans will be offered to corporate clients.

Azerbaijan’s stock and bonds markets will achieve rational operations in year 2025.