12:41 - 17.06.2026

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June 17, Fineko/abc.az. Over the past 3 years, the deposit market has more than doubled.

ABC.AZ reports that CBA Director General Shahin Mahmudzade made the relevant statement at the 20th Global Forum on Islamic Finance, organized in Baku as part of the 51st Annual Meeting of the Islamic Development Bank Group (IDB).

He noted that during the same period, an IPO was conducted for the first time, and the first floating-rate bonds in Azerbaijan were issued.

"The international ratings of the banking and financial sector have increased. Moody's, Fitch Ratings and other international assessments show that confidence in the financial sector and monetary policy has increased significantly in recent years. Naturally, every reform is accompanied by certain difficulties. For the sake of long-term success, sometimes it becomes necessary to abandon short-term goals. However, to overcome these difficulties, we do not give preference to abrupt and sudden changes. First of all, pilot mechanisms are being implemented, regulatory "sandboxes" are being used, and preliminary frameworks are being formed to prepare for future changes. One of the most important issues in this process is to move at the same pace as other stakeholders. The success of reforms depends not only on their preparation, but also on the ability of all participants to adapt to these changes. Therefore, the main call is to move forward without leaving partners behind, as well as involving them in the process," Mahmudzade added.