Home > United Nations Online Network in Public Administration and Finance (UNPAN)
1. Global
Global
2. Africa
Africa
3. Arab States
Arab States
4. Asia & Pacific
Asia & Pacific
5. Europe
Europe
6. Latin America & Caribbean
Latin America & Caribbean
7. North America
North America
UNPAN Asia & Pacific




Public Administration News  
Share
"Azerbaijan Is Tolerant to All Innovations Used in Global Economy"
Source: http://www.today.az/
Source Date: Monday, June 28, 2010
Focus: Electronic and Mobile Government, ICT for MDGs, Knowledge Management in Government, Citizen Engagement, Institution and HR Management
Country: Azerbaijan
Created: Jul 05, 2010

It is necessary to conduct certain research before Islamic banking is implemented in the banking sector of Azerbaijan, chairman of the Central Bank of Azerbaijan Elman Rustamov said.

"Over the last 17 years the development of financial and banking system in Azerbaijan achieved great success on classical and traditional principles, basing on the experience of countries, Rustamov said.

"Now the financial system and banking systems have demonstrated resistance to the global crisis. However, our country is open to all innovations used in the global economy, and this tolerance can be used in the financial system. However, research in this area can not begin earlier than 2011, since this question requires serious analysis.A new strategy of development of financial and banking sector is under preparation now", he explained.

"It will rely on the challenges of the crisis. The need to reach a new strategy for the entire financial system is associated with its role in the world economy. The financial sector in developed countries, including the U.S., exceeds the real sector six times, i.e. the creation of the financial industry is an important factor for the development and enhancement of the economy", Rustamov added.

The development of the financial industry must have a primary role. It should act as a catalyst for promoting the economy.
News Home

 Tag This
 Tell A Friend
 Favorite
del.icio.us digg this Slashdot
Rate:
0 ratings
Views: 151

Comments: 0 Favorited: 0 Bookmarked: 0 Tagged: 0



0 Comments | Login to add comment

Site map | FAQs | Terms and Privacy | Contact Us
Copyright 2008-2010 by UNPAN - United Nations Public Administration Network