Azad Javadov: "Bank depositors in Azerbaijan do not have to worry"

He noted that the influence of the crisis may be felt if the crisis deepens. But it should be taken into consideration that Azerbaijan has sufficient monetary reserves to resist such a situation.

"Therefore, I can state that the systemic crisis in Azerbaijan is not expected. However, there is another moment - panic. If the depositors create a groundless stir because of talks about crisis and start to withdraw their deposits, it will lead to the bankruptcy of banks. But I would like to repeat that Azerbaijan has no grounds for such a panic.

Let's see: the assets of the country's banking system make just AZN 8 bln of which deposits of individuals make AZN 1.7 bln. This is a small amount for our state. Azerbaijan receives more revenues from the oil and non-oil sector sector as compared to the overall amounts of deposits", concluded Javadov.

/Day.Az/