It is important to convert dollar funds accumulated in Azerbaijani banks into manats, Chairman of the Association of Banks of Azerbaijan (ABA) Zakir Nuriyev said at the 9th Azerbaijan Microfinance Conference in Baku on Nov. 22.
Nuriyev said that it is also possible to conduct relevant swap operations.
Presently, excessive liquidity in the Azerbaijani banks reaches about five billion manats, but there are difficulties with investing these funds in the development of the economy, he added.
He also noted that conducting swap transactions, taking into account other factors, will be crucial in this direction.
The 9th Azerbaijan Microfinance Conference took place in Baku on Nov. 22.
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