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Vusal Gasimli statement on deposit insurance

23.09.2019,17:04


September 23, Fineko / abc.az. The president’s decision on full deposit insurance became very significant and revolutionary, Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, said at a seminar today.

ABC.Az reports that, according to him, this decision was a step designed to develop the financial banking sector: “But, as you know, tax and customs reform is underway in Azerbaijan. Work is underway to reduce the shadow economy. In trade, they try to conduct non-cash transactions. The more the non-cash economy grows, the more serious the transparency will be in the economy as a whole. In particular, at today's seminar, an exchange of views will take place with the Deposit Insurance Fund and the World Bank in Azerbaijan. We will hold discussions on how the World Bank can bring advanced world standards to Azerbaijan.”

 

Posted by Elmir Murad