Finance

Home page

Finance

Baku hosts 5th Azerbaijan Microfinance Conference

05 October 2010 13:27 (UTC +04:00)

According to APA microfinance and legislation, mobile and Islamic banking, social accounting and social rating, agriculture and micro insurance, world practice and perspectives, financial literacy and protection of customersâ€™ rights, role of credit bureau in financial markets and financing of microfinance sphere will be discussed at the conference.

Executive Director of AMFA Jala Hajiyeva noted that the main purpose of the conference is to promote the consuming of financial services transparently and fair, creation of relation among the micro financial institutions, banks, credit unions and investors, donors and service guarantors and discuss the best approach and practice on application spheres of responsible micro finance.

Rashad Orujov, the Director of Banking Supervision Department of CBA spoke about the rules on non-banking organizations. According to him the non-banking organizations can operate as insurance agent and launch a branch without licence from CBA.

He also noted that CBA will start the fulfillment of project on protection of Consumersâ€™ rights joint with WB recently. This project will attract non-banking organizations in the country.

Note that Ziyad Samadzadeh, Milli Majlis economic policy standing commission chief and AEC president Mammad Musayev spoke about the development of Azerbaijanâ€™s economy including achievements and problems in micro finance spheres.

Note that, near 20 foreign investor organizations, companies consuming technical service on software to the microfinance organizations and the representatives of specialized companies on the credit scoring attend the conference.

AMFA has been in operation since 2001.