16:01 - 5.06.2024

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June 5, Fineko/abc.az. The Central Bank is carrying out quite serious reforms in the financial sector.

The financial sector is already approaching a new stage of its development. Since the beginning of the year, work has been carried out to develop cooperation in various sectors.

ABC.AZ reports that ABB Presidium’s chairman Zakir Nuriyev stated about this at a press conference at ABB.

He said that they will also offer customers a life insurance product when they receive a loan. Banks were given three months to integrate with the insurance company. For the mutual integration of systems, insurance companies work on an equal basis with us.

"Let the pricing policy of the product offered to the main target customers be correct. Do not create additional costs for customers. Today, more than 95% of loans given are not insured. But within 3 months, banks will integrate insurance companies. These insurances will lead to lower interest rates on loans and credit risks," the chairman stressed.