The local banking sector has become more popular in the sense of creating an effective infrastructure to meet the needs of the economy in the capital and access to finance.
According to the State Committee for Securities (SCS), its Chairman Rufat Aslanli held a meeting on the matter with members of the Association of Banks of Azerbaijan (ABA).
According to Aslanli, the changes in the national stock market after the adoption of the law on the securities market will require the development of new tools. Under the current conditions (low oil prices, the devaluation of the manat) the success of long-term strategies depends on the responses to the financial challenges, he said.
ABA President Zakir Nuriyev, in turn, said that the meeting will help the formation of a new policy of modernization of the banking sector, noting the role of the banking sector in the policy of economic modernization in view of new challenges.
During the meeting the sides exchanged views on current trends in the securities market. --- 17D-
Economics
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