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WOCCU Secretary General to visit Azerbaijan

29 August 2008 14:46 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA. David Grace, Secretary General of the World Council of Credit Unions (WOCCU), will visit Azerbaijan in September.
Elchin Baghirov, Chairman of Azerbaijan Credit Unions Association, told APA-Economics that he will have meetings at the National Bank of Azerbaijan, Milli Majlis and government agencies.
The principal objective of the visit is to have discussions about the countryâ€™s legal framework for credit unions and related issues.
The World Council of Credit Unions is the leading international trade association and development agency for credit unions. Founded in 1971, WOCCU emphasizes a savings-based approach to ensure long-term sustainability of credit unions.
Azerbaijan Credit Unions Association has been in operation since 2003 and joins 51 of 78 credit unions operating in the country.
35 of the member credit unions have a strong focus on agricultural and rural lending.
The quarterly membership fee by credit unions is AZN 100.