By Trend
The activity of Azerbaijani banks cannot be considered
satisfactory due to their high interest rates on loans, said Ziyad
Samadzade, chairman of the parliamentary committee on economic
policy, industry and entrepreneurship.
Speaking at the plenary meeting of the Azerbaijani parliament
Nov. 13 during discussion of the state budget for 2019, Samadzade
noted that it is necessary to come to a consensus and achieve lower
interest rates.
The average interest rate on manat loans in Azerbaijan is 14.21
percent, and on US dollar loans is 8.9 percent, according to the
Central Bank of Azerbaijan. For individuals, this figure is 17.19
percent and 15.74 percent, while for legal entities - 9.03 percent
and 6.38 percent, respectively. However, in some banks, the
interest rate on loans can reach 30 percent or more.
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