17:36 - 3.12.2024

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December 3, Fineko/abc.az. In Azerbaijan, banks have started to involve third parties in the process of giving loans.

ABC.AZ reports that CBA spokesperson Gunai Mahmudova said about this at the VIII International Banking Forum in Baku.

According to Mahmudova, the agency banking model, which is popular in international practice, is already being implemented in the country. For this, the CBA has developed a legal framework, making changes to the Rules for Managing Credit Risks in Banks.

"However, the list of possible third parties is limited. Now banks can involve payment organizations, electronic money organizations, non-bank credit organizations and national postal operators in the process of giving loans," Mahmudova stressed.

She added that the first loans have already been given within this model, which is an important step for development of the banking sector.