BAKU, Azerbaijan, January 29. Banking and
finance in Azerbaijan’s regions are seeing a growing impact from
Non-Bank Credit Institutions (NBCI), which now operate 238 branches
across the country, said Fuad Isayev, Director General of the
Central Bank of Azerbaijan (CBA), Trend reports.
Speaking today at the Microfinance Forum in Baku, Isayev
highlighted that the sector’s extensive branch network demonstrates
the vital role of NBCIs in regional financing.
"The sector currently includes 54 NBCIs and 35 credit unions,
all but one representing the private sector. In addition, 14 NBCIs
with foreign capital are actively operating in the microfinance
sector," he noted.
The "Access to Capital Markets: 1st Investor—Microfinance
Forum," being held in Baku, Azerbaijan, is bringing together
important figures from the financial industry. The forum is jointly
organized by the Central Bank of Azerbaijan (CBA), the Azerbaijan
Capital Markets Association (AKBA), the Azerbaijan Microfinance
Association (AMFA), and the Baku Stock Exchange (BSE).
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