Problems in business environment reduce demand for loans – Central Bank chair


October 25, Fineko/ The Central Bank of Azerbaijan has repeatedly advised the domestic banks not to get too attached to consumer loans.

ABC.AZ reports that the above-said statement was made by CBA’s chairman Elman Rustamov at a press conference held in connection with the announcement of the parameters of the interest rate corridor.

Speaking about the problems of the banking sector, including with the matter of giving of business loans, Rustamov also touched upon the question of personnel and stressed that certain successes have been achieved here: "We observe certain quality success in the personnel of banks in recent years. Banks can't be blamed for much either. Problems in the business environment will certainly reduce the demand for loans. Often in the society, the demand for business credit is considered as a whole. We think solutions to problems can be achieved on an open platform, in discussions with the business community, with entrepreneurs, with representatives of banks. But so far we haven't achieved that, I admit it. I believe judicial reforms will lead to an improved business environment."