Baku is one of the candidates for establishing a CIS regional financial center, Chairman of the Coordination Board of CIS Finance and Banking Council Anatoli Kazakov stated.

Mediamax reports referring Trend that Anatoli Kazakov stressed the importance of establishing a financial-banking market of the CIS with regional centers in Russia, Azerbaijan and Kazakhstan in the conditions of the world financial crisis.

According to Anatoli Kazakov, the huge speeds of economic growth and the annual increase of banking assets at about 35% evidence the fact that Azerbaijan may become a financial center.

“This is an unprecedented index of capital increase and this is a quite serious conservative policy for the development of the banking system, when the growth of assets remains connected to the capitalization of the banks”, Kazakov stated.