I`m for return of FIMSA`s functions to Central Bank - Expert


November 7, Fineko/abc.az. The separation of the Central Bank and the Financial Market Supervision Authority (FIMSA or Authority) is undesirable in not large countries, says expert economist Samir Aliyev in an exclusive statement for ABC.AZ

He noted that this trend is observed in larger states, where there are more financial participants.

"But in such small countries as Azerbaijan, in my opinion, the existence of FIMSA is not successful, and its functioning under the Central Bank may be more profitable. At the same time, unfortunately, one of the shortcomings of the Authority is the lack of a base. FIMSA’s statistics is not at the desired level. We’re unable to obtain information as a researcher when applying to its statistics. As a whole, sometimes the data is reflected very poorly. And in the future FIMSA should pay attention to this matter. I don’t perceive the presence of FIMSA in Azerbaijan as a tragedy, but I assess it more optimally in the form of a single structure if it unites with the Central Bank. I’m for the return of FIMSA’s functions of regulation and control to the Central Bank," the expert emphasized.