Proposals mulled on increasing financial mediation in Azerbaijan's banking system

Baku. 12 July. REPORT.AZ/ A meeting of the Presidium of the Association of Azerbaijani Banks was held on July 12.

Report informs referring to the Azerbaijan Banks Association (ABA), main purpose of the meeting was to discuss and estimate the proposals related to increasing the banking system's financial mediation.

The proposals made by the member banks of the Association were mainly connected with the state support to the improvement of the banking system as well as development of the financial markets' activity, transitions and infrastructure. The solution aimed at the restoration of crediting of the real sector and improvement of the microeconomic situation were the main issues in the spotlight.

The proposals aimed at the improvement of the legal basis and regulatory and normative acts were also mulled during the meeting.

Notably, the Association of Azerbaijani Banks was established in 1990 by commercial banks. The main aim was to protect the interests of the member organizations, provide them with various types of services and coordinate their activity. Currently, some 30 banks and 2 non-bank credit organizations, as well as the "Azericard" processing center, are the ABA members.