Head of Bank VTB (Azerbaijan) told about reforms in Azerbaijan


December 19, Fineko/abc.az. We welcome reforms in Azerbaijan.

ABC.AZ reports that the statement was made by Bank VTB (Azerbaijan) head Yevgeny Kirin at a news conference devoted to Bank's activities for Jan-Oct 2019.

He noted that the reforms carried out in the tax and other spheres are commendable and affect not only the banking sector, but also all spheres in general.

Kirin even more concretized the impact of reforms, noting that currently banks occupy a special place in non-cash operations in Azerbaijan: "Banks support non-cash settlements. Reforms in the tax sphere also simplify the registration of companies, reduce the shadow economy. In this regard, there is world and Russian experience. How does this affect banks? The impact is that when companies operate in an official form, banks can get accurate information about customers. Thus, the efficiency in banking operations is growing even more. Currently, online cash registers are used in the world. And this, of course, accelerates the efficiency about which I spoke, so the reforms are very important and deserve approval."