16:25 - 9.03.2022

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March 9, Fineko/abc.az. After the crisis of 2015 and 2016, we are witnessing the improvement and strengthening of the banking system, World Bank's Manager for Azerbaijan, Sarah Michael, said in an interview for ABC.AZ.

The WB representative said that this manifested itself in several ways:

"We’re witnessing the process of liquidation of weak and vulnerable banks, improvement of asset quality in the banking system, as well as de-dollarization of deposits. We’re also witnessing the Government's commitment to the recovery of the financial sector in the past years. In particular, this is manifested in the improvement of the system of control over the financial sector. At that, regulatory and control structures are being improved. Attention to ensuring the stability of the banking system has increased. At that, of course, there are certain areas in which it is necessary to pay attention or eliminate difficulties. There are certain banks that have currency risks and obligations. At the same time, in the global market outside the banking system, volatility is one of the issues that requires some attention."

By Elmir Murad