OREANDA-NEWS. October 24, 2008. During the recent year Azerbaijan economy continues its dynamic development. Economy has developed due to the development indicators; global financial crisis did not influence the fundamental economic basis of the financial stability, reported the press-centre of IBA.

In new condition we see dynamic growth and stability in a bank system, the role of banks in the economy as a financial mediator has developed.

During the year, strategical currency funds have surpassed 17 billion USA dollars, the total foreign actives of the country have surpassed 9 billion USA dollars, and as a result of it Azerbaijan has strengthened its creditor place in the financial attitudes and world economy.

Strategical currency funds have increased the international licvids of Azerbaijan and these funds are more than 1.7 time than the total foreign depts of the country.

The National bank implements its preventive policy measures in order to neutralize foreign risk factors and to protect financial stability in the bank system. These measures provide the high quickness of licvid apparatus and complex prudential management directed to the strengthening of the stability against the foreign economic crisis in the bank system.

During the recent year the protection of the bank system has been strengthened and the management of the credit licvids and market risks has specially been controlled. These measures protect the licvid indicators adequately and increase the financial stability in the banks.

The Management staff  of the National bank has decided the  decision about the decreasing of account grade  from 15% to 12% and percent grade from 20% to 17% since October 14 2008 year.

Due to the decision of the National bank since November 3 the obligatory fund norms have been decreased from 12 % to 9 % on the foreign currency and manat commitments of the banks. At the same time the obligatory reserve norm on the foreign commitments have been decreased from 5 % to 0 %.

Now the National bank applies new methods on the regulation of the licvids to strengthen the financial stability, creates more developed mechanisms on the refinancializing of the banks, and other measures influencing the economic dynamics and implements new methods on the protection of the financial stability.