Baku / 06.10.17 / Turan: Solving liquidity problems created an opportunity to lower loan interest, said Zakir Nuriyev, President of the Association of Banks of Azerbaijan, at the Fifth Fair of Investors in Baku.
He noted that microfinance organizations issue loans at 40% per annum, but due to the formation of liquid funds, these percentages can be reduced.
"Currently, the banking sector has a liquidity of 4 billion manat and therefore there is no need to raise funds from abroad. In the near future, the auction mechanism between banks will be involved and liquid funds will be distributed among the market participants, he said.
Z. Nuriyev noted that the banking sector had a task of raising funds before, but now the priority is to transfer these funds to the economy at favorable conditions. -71D-
Finance
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In 2024, Azerbaijan's state budget revenues totalled AZN 37,164.2 million and budget expenditures AZN 37,719.7 million. This was reported by the State Statistics Committee.
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In 2024, receipts on compulsory health insurance in Azerbaijan totalled about AZN 1 billion.This is up by 8.6% from the same period of 2023, the report said.
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Findoc' portal created by “Azerbaijan Credit Bureau” in the format of business client (B2C) has 100,000 users.This was announced by the Bureau.
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