Expert: It is considered in Azerbaijan that all banks steal money from people

17:30 - 30.09.2019


September 30, Fineko/abc.az. In order to restore the trust to banks, it is necessary first of all to solve the problem of non-performing loans, says Akram Hasanov, the expert on banking sector of website when commenting on ways to restore confidence to the banks.

The expert says that although people are carrying out a number of works to restore confidence in banks, this is not enough. 

Hasanov brought as an example the Azerbaijani president’s task concerning the solution of small problem loans. He also did not forget to accuse the Financial Market Supervision Authority (Fimsa) in this question: "There are still large problem given to citizens and businessmen. Most of them are artificial, that is, given illegally, misappropriated. It is not difficult to define those loans. If you see that a large loan is given for a long term with low interest and no collateral or with very low cost collateral, then you should know that this is an illegal loan. Such a loan is given intentionally and it will hardly be repaid. This should be determined.  And it should be determined by Fimsa and law enforcement agencies. 
So, the state must either force those bodies or create a special commission to require money from those persons, regardless of their identity. At the same time, we know that many people have money and unprotected deposits in closed banks. In those banks there remained a great deal of money of firms and companies. They are not returned as they are problem loans. This is artificially derived, stolen money. Such issues should be solved to ensure people's trust in banks. All banks should be inspected and shortcomings should be identified. Now in Azerbaijan everyone thinks that all banks are thieves and swindlers, although we have good banks. But this definition is attributed to all banks."

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