Baku is holding the third international bank conference - "Financial institutions as the basis for structural modernization of the economy of CIS states - APA reports.
Bankers from Azerbaijan and CIS states, as well as 180 delegates from the CIS Finance and Banking Council will take part at the conference.
The conference was opened by Jakhangir Gadzhiyev, Chairman of the Board of Azerbaijani International Bank and Vice-President of the CIS Finance and Banking Council. He noted the importance of the post-crisis period and gave a high rating to the international finance institutions, including the World Bank and the International Monetary Fund.
Gadzhiyev also said that the bank sector is the basis for modernization of the economy and shows high growth rates, both from the quantitative and qualitative points of view. He said that experience exchange is a significant issue as well.
Gadzhiyev spoke about the achievements of the Azerbaijani International Bank, its leading role in the South Caucasus and rated the bank's activities in international finance institutions.
Deputy Chairman of the CIS Executive Committee Novozhilov described the importance of the post-crisis period in modernizing the economy and the banking sector. He said that diversification of credit banks is one of the key factors in the sphere and modernization of economy is being discussed within the CIS states at all levels.
