A roundtable discussion titled “Challenges and Development Prospects in Azerbaijan’s Financial and Banking Sector” was organized at the Center for Analysis of Economic Reforms and Communication (CAERC) of the Republic of Azerbaijan.

Opening the event with introductory remarks, Executive Director of CAERC Vusal Qasimli stated that the reforms carried out in the country have already created conditions for the banking sector to overcome the crisis: “The financial and banking sector must play a more significant role in the diversification of the national economy, sustainable development and the preservation of macroeconomic stability.”

At the event, presentations were delivered by World Bank representatives Angela Prigozhina, Fernando Dankausa and Lalit Raina. Discussions covered issues such as capitalization in the banking sector, the level of dollarization, the quality of the loan portfolio, the situation of non-performing loans, and risk management. It was noted that starting from 2018, the contribution of the banking sector to economic growth should be expanded. In this regard, continued economic reforms within the framework of the Strategic Road Maps will play an important role.

Representatives of government institutions, the banking sector, business community and academic circles participated in the roundtable discussion.