At the root of the difficult situation in the financial and banking sector of the country is the illegal use of foreign exchange reserves of the Central Bank by the International Bank of Azerbaijan, said in an interview with “Cətin Sual” of Turan agency financial expert Gulu Ibrahimli.
The Central Bank has allocated additional 2 billion AZN credit to SOCAR. "Such steps violated have violated the CBA balance. The use of the CBA funds for the salvation of the IBA and the state company created risks around financial sector of the country," he said.
According to experts, the further allocation of funds for the salvation of IBA will lead to even more serious consequences. "CBA specially creates a shortage of foreign currency in the bank, and the black market, to create a basis for a new sharp devaluation of the manat," said the expert.–03С06--
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