Baku. Musa Ahmadov - APA-Economics. “Global economic processes, structural transformations set new challenges before the world economy, especially financial sectors”, Director General of the Central Bank of Azerbaijan Rashad Orujov said at the Investors Fair, titled "On the Pathway to Responsible Microfinance".
He says therefore, the financial, especially banking sector should have new targets: “Undoubtedly, global challenges also touch on Azerbaijan’s economy. Azerbaijan’s banking sector should also have new obligations to respond to the new challenges. So, funding economic growth should play more important role. Microfinance institutions also should have new obligations. Significant part of GDP falls to share of small and medium business in the world countries. Sometime, it exceeds 50%. Therefore, extension of access of small and medium business to the financial services is one reasons for their successful activity”.
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