
Individual Program of Financial Stability of Banks
The Chairman of the Board of Directors of the Financial Markets Control House Rufat Aslanli gave an interview with ANS TV. According to him, FMCH has worked out an individual program designed for local banks to strengthen their financial stability against the background of the lack of fundamental problems that could disturb the public in their activity.
We remind readers that there are problems connected with last year's double devaluation of the manat against the US dollar (banks borrow money from the Central Bank and international financial institutions in this currency, returning the funds with interest once again in US dollars).
According to Aslanli, the share of banking assets in GDP due to the devaluation is 67% (in manats), four-fifths of which were formed in the past year due to these processes, since the majority of the assets are denominated in foreign currency. It turns out that in dollars, their share is one third of GDP. --17D-
Economics
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