Azerbaijani MP: 15-20 banks are sufficient for Azerbaijan

Baku. 18 November. REPORT.AZ/ “Consolidation of banks should go on and I think operation of 32 banks in Azerbaijan is excessive”.

Report informs, member of Azerbaijani parliament (Milli Majlis) Vahid Ahmadov told reporters.

According to V. Ahmadov, 15-20 banks are sufficient for Azerbaijani economy: “Merger is the main way for recovery of banks”.

The deputy said that he doesn’t expect the government to raise prices for utilities coming year: “We don’t envisage any rise of prices for utilities in the budget. But all these will depend on oil prices and other economic processes. At the same time, increasing social benefits will also depend on these processes”.

V. Ahmadov told that 4 months ago he sent proposals to Financial Markets Supervision Chamber (FMSC) related recovery of banks and payment of USD loans. But he hasn’t got any reaction from the Chamber so far: “I have information that they work on my proposals. We received about 300 applications concerning banks. These applications are about banks that doesn’t make any concessions for USD loans. But many banks convert debts of clients into manats”.