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
-
Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
-
Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
-
Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
-
The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
Leave a review