A new model of Int’l Bank is ready - Chief banker


October 25, Fineko/abc.az. One of the foreign consulting companies has developed a new business investment model of the International Bank of Azerbaijan.

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

Country’s chief banker highly appreciated this and added that today 95% of Azerbaijan's financial sector consists of the banking sector.

According to Rustamov, in order to make serious changes in the financial sector, it is necessary first to carry out certain work in banks.

"We’ve been working for many years to create good risk management in banks. Every time I meet with bank executives I talk about this issue for at least 40 minutes. But sometimes the heads of large banks later tell me that, unfortunately, they could not listen to me well. One of the main risks is risks associated with loans. There used to be an expression - "demand". Everything was expressed in this word. But there should be discussions with the bank management. That is, issues related to collateral or repayment of loans require special attention," CBA’s chair emphasized.