Heydar Babayev: "Strong reforms are necessary in the banking system"

According to Mr.Babayev saying that local commercial banks do not directly cooperate with foreign financial institutions, strong reforms must be carried out in the banking system.

The Minister said that he raised this question at a meeting with the President of the European Bank for Reconstruction and Development (EBRD) and noted that all banks must find cheap financial sources.

Mr.Babayev also stressed that the National Bank should take necessary steps in this direction as well, APA reports.