Financial Markets Supervision House Warns Banks

The Financial Markets Supervision House (FMSH) warned commercial banks in connection with the permissible margin when trading currency, told reporters the head of FMSH Rufat Aslanli.

FMSH warned the banks to comply with the law in such a sensitive moment.

"Against margin violators very serious measures will be taken," he said.

Aslanli also said that currently on the agenda FMSH there is no closure of a bank, while noting that the main task of FMSH is to ensure a sustainable financial sector.

Regarding the improvement of the International Bank of Azerbaijan, Aslanli said this process will be completed in 2017.

He stressed that regarding this issue FMSH is in close contact with the Government and the Ministry of Finance.

 “The project of capital recovery in IBA through the sale of its toxic assets is progressing well. In preparation for its privatization its unbundling is carried out,” he said. ----71D

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