“The valuation sector has been neglected for years. We openly discussed this issue with the Central Bank.”
This was stated by Asif Ibrahimov, advisor to the Chairman of the Azerbaijan Society of Appraisers.
According to him, at the traditional meeting held at the Central Bank with the country's leading experts, serious problems existing in the valuation sector were brought to the agenda, alongside the banking and insurance sectors.
"During the meeting, innovations applied in the banking and insurance sectors, corporate governance standards, monetary-credit and fiscal policy, devaluation risks, as well as issues of increasing competition in the banking sector were discussed. However, the main focus was directed towards the valuation sector, which has been neglected for a long time.
In my questions directly addressed to the Central Bank management, I emphasized that while consistent regulations are being implemented in the banking and insurance fields, the same approach is not being taken towards the valuation sector."
Asif Ibrahimov stated that the results of the discussions held in this direction will be presented at the next meeting. "I believe that this approach can be an important step for the institutional development of the valuation sector and its healthy integration with the banking system," the expert added.