World Bank stands ready to support development of agricultural insurance in Azerbaijan

Baku. 20 May. REPORT.AZ/ Chairman of Board of Directors of the Financial Market Control Chamber, Rufat Aslanli has met with a delegation of the World Bank (WB) led by the World Bank Group’s Manager for Finance and Markets Practice, Rolf Behrndt.

Report informs referring to the Chamber, the meeting has discussed around the project of modernization of the financial sector, implemented by the World Bank in Azerbaijan. R.Berndt noted that Azerbaijan is preparing a bill on creation of private credit bureaus, saying that the World Bank Group is ready to support the development of agricultural insurance. It was also noted that the deadline for provision of technical support to Consumer Protection and Financial Literacy project has been extended up to October this year.

R.Aslanli expressed interest in creation of private credit bureaus, noting that in the future the data collected in these offices will be used in effective regulation of banking sector.

During the meeting, a project on financial services by the "Azerpost", as well as cooperation between the Chamber and World Bank in development of the insurance sector have also been discussed.