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FINCA Azerbaijan tp open two regional offices

FINCA Azerbaijan tp open two regional offices

17 November 2009 16:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. FINCA-Azerbaijan, a non-bank lending institution based in Azerbaijan, plans to open two representative offices in provinces.

Zaur Nurmammadov, FINCA-Azerbaijan coordinator for projects, said the offices will be based in Ismayilli and Ujar.

According to him, the company will soon send a notice to the Central Bank of Azerbaijan about the opening of regional offices.

FINCA-Azerbaijan operates 24 branches and 30 offices across the country.

The loans are available for union groups at 2.5-3% monthly, rural community groups at 3.5% monthly and individuals at 2-3%.

FINCA Azerbaijan is part of the FINCA International network, which developed the village banking method of microfinance which emphasizes the formation of community-based credit and savings associations, was established in 1998.

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