(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 5. The financial sector
is under constant control in Azerbaijan, the Governor of the
Central Bank of Azerbaijan Taleh Kazimov said at today's meeting of
the Parliamentary Committee on Economic Policy, Industry and
Entrepreneurship, trend reports.
According to him, some banks are functioning normally, while the
activity of others is problematic and this can harm the entire
financial sector.
"I would not want to close banks. In banks that have big
problems, appropriate work must be timely carried out. If this work
isn't carried out in banks or doesn't bring any benefit, then they
should be closed. The financial sector is at the center of the real
sector of the economy, and its problems will affect the entire
economy," he said.
Currently, 22 commercial banks are operating in Azerbaijan.
From 2012 to May 2023, 14 banks have been closed.
Recently, by the decision of the Administrative Board of the
Baku Court of Appeal on May 18, 2023, Gunay Bank was declared
bankrupt, and the Azerbaijan Deposit Insurance Foundation was
appointed its liquidator.
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