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    Rufat Aslanli: Draft law prepared on management of troubled banks

    FMSC will prepare a draft law on loan guarantee mechanisms

    Baku. 4 November.REPORT.AZ/ New draft laws have been made in Azerbaijan on development of financial markets, some of the drafts are underway.

    Report informs, Chairman of Board of Directors of Financial Market Supervision Chamber Rufat Aslanli said.

    He said that one of the drafts is related to management of troubled banks, restructuring of overdue loans: "Discussions on this draft law will start in near future."

    In addition, R.Aslanli noted that work on the draft law on financial market regulation and supervision has been completed. The chamber plans to begin works on draft law on loan guarantee mechanisms. Also, work is underway regarding pledging of movable property. 

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