Azerbaijan central bank pushes to privatise banks

azerbaijan-rustamov

The Central Bank of Azerbaijan on Wednesday announced plans to privatise its commercial banks as part of a revamp of its banking system after Elman Rustamov, the chairman of board, said the state-run banking sector model is inefficient.

Under the new plans, both International Bank of Azerbaijan, which is 50.2% state owned, and Aqrar-Kredit an agriculture bank which is 100% state owned, will move into private hands.

"I think that one should expect privatisation of the International Bank of Azerba

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