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Baku hosts international microfinance conference

04 October 2012 13:15 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. Azerbaijan Microfinance Association holds the 6th Microfinance Conference on â€œItâ€™s time to think. Risk Managementâ€.

AMA Executive Director Jala Hajiyeva says the event aims to share leading practices in risk management sphere and create condition for exchange of ideas, which could be contribution to improvement of microfinance sector in Azerbaijan.

She noted that, as an Association, AMA always supported provision of member-organizations with new methods, significance and leading practices to eliminate adn manage the risks.

She thereafter informed about financial performances of the member organizations. According to her, as of September 1, 2012, the loan portfolio of member organizations exceeds $740 mln. Number of clients is 440,000.

Chairman of AMAâ€™s Board of Directors Suleyman Kalashov spoke about poverty reduction, new jobs in the regions and the role of microfinance sector in common development.

Access Bank was awarded with the prize of â€œMember Organization of the Year - 2012â€ for contribution to significance initiatives supported to increase of faith and recognition of Azerbaijanâ€™s microfinance sector nationally, regionally and globally.

Adequate domestic control systems, safeguarding of client, risk management, modern technologies in the remote areas, role of women in microfinance, financial education, improvement of legal frame for micro credit and micro entrepreneurship institutions, increase of abilities in medium management and social activity management will be discussed at the event, tomorrow.

Note: along with local micro financial organization, foreign investors â€“ representatives of Triple Jump, Finance in Motion, PlaNIS responsibility, EBRD, KfW and IFC participated in the conference.