The CBA to introduce the advanced standards and experience in bank supervision in 2012
Baku, Fineko/abc.az. The Board of the Central Bank of Azerbaijan has held expanded meeting on summing up 2011 results which was attended by heads of the banks structural and regional departments.
The CBA has reported that its Chairman Elman Rustamov noted the banks activity in provision the country economys stability and growth. In particular he succeeded in provision inflation in set-up parameters, stability of exchange rate and development of bank sector, increase of payment system quality and financial services.
At the meeting active application of contra-cycling tools of bank sector, innovative integration of monetary and prudential policy was noted. It was also said of formation of new cash management and fiscal infrastructure system.
Estimating the results of 2011 as positive ones, E. Rustamov set the target of the CBAs institutional development and modernization in accord with new strategic plan. In particular , modernization of bank system regulation on the basis of advanced (modern) international standards and experience will be priority in 2012.
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