14:58 - 12.09.2019

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September 12, Fineko/abc.az. There is a need for the world's leading foreign banks to open branches in Azerbaijan, head of the Center for Economic and Social Development Vugar Bayramov told Abc.az that he had little interest in foreign banks in Azerbaijan.

Confirming the low interest in foreign banks operating in Azerbaijan, Bayramov considers that the main reason for this is the absence of the leading world banks in our country.  "Regretfully, the world's leading foreign banks have no branches in Azerbaijan. Of course, the matter is about banks in the European Union and the United States. If the banks of these countries are involved, then the interest in foreign bank branches and foreign banks in Azerbaijan can be increased. I think the main issue today is that the banks involved do not have leading banks, and that the global banks do not open branches in Azerbaijan. This ultimately leads to a small share of foreign banks in the banking business.”

Posted by Elmir Murad