He said that reforms of the state and private banking sectors had made it possible to bring about development. A process of consolidation can be observed in the banking sector. Out of 250 banks set up in the republic, 46 are currently operating. The process of merging state b
AZERBAIJAN - The Azerbaijani banking system, which was in a poor state in 1993-95, is experiencing a period of upswing, the chairman of the board of the National Bank of the Azerbaijani Republic, Elman Rustamov, has said.