ECONOMY
CIS BANKING CONFERENCE KICKS OFF IN BAKU
The international banking conference “CIS Financial Markets: Development and Integration” sponsored by the International Bank of Azerbaijan and Executive Commitee of the of Independent States (CIS) kicked off in Baku on Friday.
Over 200 representatives of leading financial organizations, banks and governmental bodies from 10 countries have got together do discuss existing problems and prospects of cooperation between the Commonwealth largest banks.
The conference was opened by Sergey Lebedev, CIS Executive Commitee Chairman and Executive Secretary, who stressed the importance of the event in terms of bringing member-countries closer to each other on the path of steady economic development.
Elman Rustamov, Chairman of the Board of the National Bank of Azerbaijan said the conference is an expidient to reduce the effect of the global economic crisis. He pointed out that despite the crisis has manifested itself in Azerbaijan, the preventive measures undertaken in the banking and finance system have saved the country from its negative consequences.
The conference participants also discussed issues of cooperation among banks to overcome global liquidity crisis.