TODAY.AZ / Business

Azerbaijan's banking sector open for foreign capital, top banker says

21 February 2007 [22:34] - TODAY.AZ
Azerbaijan has always welcomed flow of foreign banks to the country, said Elman Rustamov, Chairman of the Management Board of the National Bank.

He said Azerbaijan's booming banking sector is open wide for banks enjoying big financial resources, advanced technology and technical assistances.

Competition will be normal. Local banks are ready to compete with foreign ones, he noted, adding that there is no limitation when buying shares in Azerbaijani banks.

Rustamov said there is no need to establish an Eximbank-like institution in Azerbaijan through lack of demand for export stimulation, APA reports.

URL: http://www.today.az/news/business/36822.html

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