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Tuesday, August 22, 2017

Oldest Azerbaijani banker joins settlement of crediting

The oldest Azerbaijani banker has joined the settlement of crediting in the countr.

Banking market source said that Mammad Musayev, president of the Confederation of Entrepreneurs of Azerbaijan, has prepared a draft of legislative amendments in the area of regulation of banks' lending practices, ABC.az reports.

"Musayev and ASK are acting together with the Central Bank, which for its part also improves credit requirements and standards. Through ASK it is planned to prepare the initiatives of the legislative amendments to the Civil and Tax Codes, a mortgage law and a large package of related laws. The initiatives will undergo examination in the CBA before their submission to parliament," a source said, according to ABC.az.

Musayev, who heads the non-bank credit organization Aqrar-Kredit, is reportedly the oldest existing banker in Azerbaijan.