CBA executive director: Our main goal is reinsurance of risks abroad

17:01 - 17.05.2024


May 17, Fineko/abc.az. As a regulator, we divide the risks of the financial sector into two parts.

ABC.AZ reports that CBA executive director Shahin Mahmudzadeh said about this at the conference "Raising ambitions, stimulating activity: COP29 Sustainable Business Forum".

He said it was about physical risks and transitional risks:

"Physical risks include floods, floods. If these risks arise, the damage to the economy and the financial sector will be quite high. Physical risks are prevented by insurance. And our goal is to transfer these risks abroad through reinsurance. Currently, in Azerbaijan, the direct impact of physical risks affects loans through banking channels," Mahmudzadeh added.