BAKU, Azerbaijan, November 5. The Central Bank
of Azerbaijan (CBA) and the Microfinance Center (MFC) have
discussed the development of microfinance and financial
inclusion.
This was reported by the CBA following a meeting between the
Deputy Chairman of the Central Bank of Azerbaijan, Toghrul Aliyev,
and the CEO of the MFC, Katarzyna Pawlak.
"During the meeting, the parties discussed the steps taken by
the Central Bank of Azerbaijan to foster entrepreneurship and
microfinance in the country, strategic priorities regarding
financial inclusion, and prospects for expanding the use of
innovations and technological solutions within the financial
sector. Furthermore, the two sides exchanged views on the role of
non-bank credit organizations in the development of the financial
sector and the business environment, as well as efforts to expand
their operations. They also emphasized the importance of
strengthening cooperation between international partners and
regulatory authorities in this area," the bank said.
The MFC is a regional network of organizations operating in the
fields of microfinance and social finance across Europe and Central
Asia.
The organization brings together providers of microfinance and
social finance services, financial cooperative systems, social
finance banks, impact investors, academic institutions, national
and international support organizations (including consulting firms
and providers of IT and digital solutions), as well as national
networks.
In its work, the organization focuses on implementing best
practices and sustainability standards, facilitating knowledge
sharing, promoting relevant initiatives, and fostering networking
within the Europe and Central Asia region.
