Azerbaijan approves ‘Rules of Credit Risk Management in Non-Bank Credit Organisations’

The Central Bank of Azerbaijan (CBA) has approved the ‘Rules of Credit Risk Management in Non-Bank Credit Organisations’. According to the resolution signed by CBA chairman Taleh Kazimov, the new rule also establishes the procedure for calculating the actual annual interest rate on a loan agreement. According to the rule, the credit risk management policy should be approved by the Supervisory (Trustee) Board of an NBCO.

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