Azeri banker calls for CIS co-op to surmount post-crisis woes
BAKU – Institutions of CIS countries should exchange experience in the period following the world financial crisis, an Azerbaijani banker said Thursday as the predominantly ex-Soviet bloc’s representatives gathered in Baku.
The 3rd Baku International Banking Conference is attended by 180 participants, including bankers from Azerbaijan and other CIS countries and representatives of the CIS Finance and Banking Council (FBC). The event mainly aims to discuss cooperation and exchange experience among CIS states in the finance and banking sectors.
Jahangir Hajiyev, Chairman of the International Bank of Azerbaijan (IBA) Board and FBC First Vice-President, told the conference that the economies of CIS countries are currently experiencing a post-crisis period, and coordination of their activity would be useful.
Hajiyev said that challenges remain to be addressed in Azerbaijan’s banking sector after the financial downturn. "From this viewpoint, exchange of experience would be very important."
Yevgeni Novozhilov, deputy chairman of the CIS Executive Committee, said that after the economic crisis world countries have realized the significance of modernizing their economies, and the banking sector should play the lead role in these efforts.
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