There is no bank in Azerbaijan that could close in the near future. This was stated by the chairman of the Central Bank of Azerbaijan Taleh Kazimov at a press conference on July 26. “Experts who say that any bank in Azerbaijan will be closed must show the fact and substantiate their claims. I don’t comment on assumptions. At present, there is no bank with serious problems in the country. Our main task is to ensure financial stability. The main thing is that the financial sector should develop steadily, provide support for economic growth, and protect the rights of creditors. In case where any bank is faced with financial instability, the CBA is taking the necessary measures. First of all, we carry out educational work with it. If the shareholder cannot solve the problem, the license is cancelled. Our financial sector is stable, and we do not see any serious risks here,” he said.
Source: Turan News Agency