Expansion of opportunities in Azerbaijan's microfinance sector discussed

The expansion of opportunities in Azerbaijan's microfinance sector was discussed at the Central Bank of Azerbaijan (CBA).

According to Report, citing the CBA, the bank's Executive Director Fuad Isayev met with the leadership of the Azerbaijan Microfinance Association Public Union, as well as with executives of member and non-member non-bank credit organizations (NBCOs).

During the meeting, participants were informed about the financial results of NBCOs' activities for the first nine months of this year, improvements to the regulatory framework, and measures taken to strengthen the sector. In addition, discussions covered the expansion of financing opportunities, cooperation with state funds, prospects for organizations operating in the regions, including the liberated territories and the Nakhchivan Autonomous Republic of Azerbaijan, legislative requirements, and other issues.

The meeting also presented information on upcoming measures aimed at strengthening the institutional capacity of NBCOs, expanding their areas of activity, and ensuring their sustainability.