Azerbaijan's National Bank supports participation of foreign brand banks in the local market

Rashad Orujev, chief of department for banking supervision of the National Bank, said the National Bank of Azerbaijan welcomes participation of foreign banks in the market of the country but gives more preference to brand banks.

"We would be glad if after opening representative offices, they would display interest in offering wider range of banking services and opening of either an affiliate or a daughter bank", said he.

At the same time, Orujev said despite the displayed interest, the National Bank of Azerbaijan had not yet received any official appeals.

/Day.Az/