BAKU, Azerbaijan, March 10. The Central Bank of
Azerbaijan (CBA) is elaborating monetary sector improvement
technique, Trend
stories by way of the CBA.
The Council for Cooperation with Entrepreneurs, established to
additional strengthen cooperation between the monetary and banking
sector and entrepreneurs, and enhance enterprise entry to monetary
providers, has held a daily prolonged assembly.
During the assembly, the CBA Governor Taleh Kazimov famous the
significance of financial diversification processes by way of
sustaining macroeconomic and monetary stability within the nation in
the medium and long run.
The talked about technique displays precedence points within the route
of fixing the issues of the monetary sector. In the true
sector, particularly in areas and rural areas, work continues to
increase the entry of financial entities to monetary sources, the
CBA stated.
During the assembly, it was famous that the actions of the
Council for Cooperation with Entrepreneurs, which is a platform for
an lively dialogue between entrepreneurs and the monetary and
banking sector, contribute to the event of producing and
providers typically.
Moreover, the council’s actions contribute to diversification
of the nationwide financial system, additional acceleration of financial development in
the non-oil sector, creating circumstances for bettering the entry of
entrepreneurship entities to monetary and banking providers.
Besides, the audio system famous the intensification of lending to
the true sector, strengthening the actions of funding
corporations to speed up the financial improvement of areas,
increasing the protection of concessional loans, additional specializing in
the event of small, medium-sized companies, the true sector,
and agriculture, in addition to consideration of using various
monetary devices reminiscent of Islamic banking.
The simplification of economic and banking providers for
entrepreneurs, the group of trainings to enhance their
monetary literacy, in addition to discussions with entrepreneurs in
the elaboration of related payments and amendments, the required
measures to help the CBA as a regulator, and different points have been
put ahead.
The significance of informing entrepreneurs about processes within the
nationwide financial system by the Central Bank, evaluation and analysis outcomes
associated to their affect was burdened.
In conclusion, Kazimov expressed confidence that within the context
of socio-economic reforms carried out in Azerbaijan, enterprise
representatives will profit extra from the alternatives created by
a powerful and steady monetary surroundings.
The assembly was attended by representatives of the National
Confederation of Organizations of Entrepreneurs of Azerbaijan, the
Azerbaijan Banks Association, the Small and Medium Business
Development Agency, the Azerbaijan Microfinance Association, the
American Chamber of Commerce in Azerbaijan, the Association of
Azerbaijan Travel Agencies and different constructions.
