Central Bank: No instruction was given to banks not to give loans in manat

Central Bank: No instruction was given to banks not to give loans in manat
13:03 24 Aprel 2015
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[ 24 April 2015 13:54 ]

The regulatory body is trying to meet the need of banks for manat

Baku. Musa Ahmadov - APA-Economics. Central Bank of Azerbaijan has not given any instruction to bank not to give loans in manat, Alim Guliyev, said the First Deputy Governor of the CBA Alim Guliyev at the meeting of Economic Policy Committee of Azerbaijani Parliament while answering questions of MPs Vahid Ahmadov and Ali Masimli “Why do the banks give loans in USD?”.

 

Guliyev said that currently, dollarization process is underway due to devaluation: “Today, banks’ resources are in dollar due to population exchange their savings to dollar. Banks offer loans in dollar to reduce risks. However, they cannot force clients to get loans in dollar”.

 

He noted that the CB carries out certain works on dollarization: “Central Bank opened a window and is trying to meet the need of banks for manat. This aims to support lending in manat”. 


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