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Bank system
Bank system. 44 banks and 101 nonbanking credit institutions function in Azerbaijan by 2011. One bank was established with the involvement of state investments, other 22 banks have been estab-lished with the foreign investments. 644 branches of the banks mentioned function within and 8 structures – abroad the country.
By the year 2011 general credit inputs to the economy made 9 163 million AZN. This figure rose up to 9% in compare with the last year. 2 567 million AZN- are short-term credits (28%), 6 596 million AZN (72%) – are long-term credits. The total sum of deposits allocated in credit organizations at that period rose up to 30% and made 5 449 million AZN. 3 billion AZN from this sum relates to the population, the other part – is in foreign currency.
The main objective of the Central Bank is to provide financial stability and increase activity of financial actors. Central Bank started new monetary policy from the first moments of global finan-cial crisis and its influence to Azerbaijan.
Risk management systems in banks were improved and the incomes in banks and insurance companies were discharged from paying taxes.
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