Press-releases

Press-releases

Press-releases are regularly updating.

July 13, 2010 - “Agriculture Credit Insurance Mechanism” Project Workshop Presentation

Azerbaijan Micro-finance Association held a seminar dedicated to the outcome of the research conducted within the “Agriculture Credit Insurance Mechanism” project. 


The project aim is to analyze the current situation on insurance and agriculture in the country and to select the best policy and prepare recommendations based on learning from the best international practices on agriculture credit insurance. At this event Executive Director of Azerbaijan Micro-finance Association, Mrs. Jhale Hajiyeva; OXFAM Project Officer, Mr. Elvin Nabiyev; AMFA Advocacy Manager, Mr. Aykhan Nasibli and AMFA Head of the Research Team, Dr. Vagif Rustamov delivered respectable presentations. 

Mr. Nabiyev gave a speech on implemented activities for supporting reconstruction of irrigation infrastructure; providing opportunities for farmers on access to market and credits, and establishing a mechanism on agriculture credit insurance. 

Mr. Nasibli stated that 450 million manats out of 2 billion loan portfolio of AMFA members are micro-loans. According to the conducted survey, half of those members provide agriculture credits, hence this sector takes 10% of the total portfolio. Being an opportunity for micro-finance institutions and insurance companies, this mechanism will have impact on improving productivity of agriculture goods in markets and initiating export targets. 

Dr. Rustamov brought the suggested mechanism structure to the attention of the seminar participants and noted that "Credit Insurance and Warranty Systems" exist in most European and Asian countries. These foundations can be established on the basis of cooperation among the state, private companies and international foundations, as well as by the state investment only. Referring to the 2nd sub-article of the article 8 - “State financial support to Small Entrepreneurship” of the Law of Azerbaijan Republic on “State Support to Small Entrepreneurship” dated June 4, 1999, it is inevitable to reflect the mechanism in the legislation based on “providing warranties to loans”. 

Besides, important recommendations for establishing the foundation on the basis of stakeholder cooperation, sharing risks through exact mechanism, exemption of foundation from all taxes, organizing focus groups, defining priorities for credits and limits for insurance and warranties were part of the discussion. 

For additional information contact to: Aykhan Nasibli, Advocacy Manager

October 5-6, 2010 - AMFA 5th Conference: Responsible Microfinance

Azerbaijan Micro-finance Association (AMFA) hosted 5th Conference “Responsible Microfinance in Azerbaijan”. The conference objective was to promote the delivery of retail financial services in a transparent and equitable fashion and create bridge between members- Micro-finance institutions, banks and credit unions, investors/ donors and service providers and share best practices and approaches on the applied fields of responsible microfinance. 


Accessbank, Vision Fund AzerCredit, Triple Jump, ASB Bank, OikoCredit, SBFIC, Parabank, FINCA Azerbaijan, TBC Kredit, Turanbank, Finance for Development, EFSE, Planis, Norvegian Embassy, CredAgro, Software Group provided financial support to the conference. Investor companies including Triple Jump, Blue Orchard, Planet Finance, OikoCredit, IFC, EBRD, Bank im Bistum Essen, DWM, Incofin Investment Management, KİVA, Moody’s Investors Servise, Planis, ResponsAbility Social Investment AG, Finance in Motion, ASN Bank attended the Conference. 

The conference was opened by Mrs. Jhale Hajiyeva, Executive Director of Azerbaijan Micro-finance Association. Following, Mr. Suleyman Kalashov, Chairman of Azerbaijan Microfinance Association, Mr. Ziyad Samedzade, Deputy Head of the State Permanent Parliament Commission on Economic Policies, Mr. Erling Skgonsberg, Royal Norwegian Ambassador, Mr. Adam Sterling, United States Embassy, Charges d’Affaires, Mr. Elman Rustamov, Chairman of the Central Bank of Azerbaijan, Mr. Mammad Musayev, President of the National Confederation of the National Confederation of Entrepreneurs had an opening speech. 

Keynote speakers highlighted the important role of micro-finance in Azerbaijan toward poverty reduction, regional socio-economic and small and micro entrepreneurship development. The vital role of non-bank credit organizations in providing access to quality financial services to vulnerable poor population (IDPs, refugees and low income families etc) across the country was also emphasized. This two day Conference covered topics as microfinance and the law(legal and policy issues),Islamic microfinance & mobile banking, social reporting and social ratings,agricultural micro insurance,responsible micro-finance, financial education and client protection, role of credit bureaus in financial markets, microfinance funding instrumentsand etc. 

Furthermore, on the first day of the conference, during a special awarding ceremony, AMFA member, NBCO Vision Fund AzerCredit LLCwas awarded for nomination on “Member of the Year 2010”, and Mr. Jalal Aliyev, the chairman of NBCO Finance for Development LLC on “Practitioner of the Year 2010”. 

Conference participants gained an opportunity for networking and establishing new partnerships with funders, strategic stakeholders and technical service providers. 

For more information please contact Jhale Hajiyeva, AMFA Executive Director!

October 4, 2011 - AMFA Investor’s Fair

Baku, October 4, 2011. Azerbaijan Micro-finance Association (AMFA) hosted Investors’ Fair. The conference objective was to create bridge between members- Micro-finance institutions, banks and credit unions, investors/ donors and service providers and share best practices and approaches in the field of financial risks mitigation. 


Qafqaz Leasing as gold partner, Demirbank, ResponsAbility, Triple Jump, Software Group and Finance for Development as silver plus partners, Aqroinvest, FINCA Azerbaijan, TBC Kredit, VF AzerCredit, Eurasia Credit, Credit Agricole, EFSE provided financial support to the conference. Investor companies including Triple Jump, responsAbility, Incofin, EFSE/Finance in Motion, EBRD, Grameen Credit Agricole attended the Fair. The conference was opened by Azerbaijan Micro-finance Association Executive Director, Mrs. Jhale Hajiyeva. Following, Mr. Suleyman Kalashov Chairman of Azerbaijan Microfinance Association, Chair of the Azerbaijan Confederation of Entrepreneurs Mr. Mammad Musayev, General Director of the Central Bank of Azerbaijan Mr. Rashad Orujov, his Excellency US Ambassador Matthew Bryza and Managing Director of ResponsAbility Mr. Sébastien Duquet,had an opening speech. 

Keynote speakers highlighted the important role of micro-finance in Azerbaijan toward poverty reduction, regional socio-economic and small and micro entrepreneurship development. The vital role of non-bank credit organizations in providing access to quality financial services to vulnerable poor population (IDPs, refugees and low income families etc) across the country was also emphasized. This Investors’ Fair is an important event where financial institutions were able to look for the most ingenious solutions to talk together, meet potential business clients and partners, vie for funding for their ideas and discover cutting- edge work. 

Micro-finance service providers currently serve over 364,594 clients and have outstanding loan portfolios exceeding $ 583, 974, 639 million. 

The first part of the Fair was devoted toFairness and Client Protection in finance.In this sessionthe main focus was on discussion of the draft law on the consumer's perspectives on transparency, fair treatment and rights, sustainable business development, balance of profitability and client protection. 

Next session was focusing on Commercial and sustainable refinancing in microfinance: challenges and opportunities. Thepanel will featured the views of representatives of financing bodies on the overall refinancing situation, what changes they expect in short-medium term and what they see are the issues that MFI's should address. 

The conference was followed by round table discussions with investor companies and financial consulting providers. This session was a great opportunity for MFIs, banks and leasing companies to gain more exposure to the existing capital market and benefit from learning opportunities and technical skills upgrade. Conference participants gained an opportunity to network and establish new partnerships with funders, strategic stakeholders and technical service providers. 

For more information please contact:Jhale Hajiyeva, AMFA Executive Director

January 29th, 2015 - 6th Annual Award Dinner

The fifth Annual Award Dinner was hosted by AMFA on the 27th of January at the Monolit Plaza. As our past events, this year’s dinnerbrought together key figures of Azerbaijan microfinance industry including representatives from 20member institutions and delegates from non-member banks. Representatives from local financial authorities and international organizations also attended the dinner. Totally more than 50 participants attended the event. 


The opening notes from AMFA’s Chairman, Suleyman Kalashov, and AMFA’s Executive Director, Jhale Hajiyeva, were followed by a number of speeches from our guest speakers, among them Neil McKean, Country Director at EBRD, Elchin Habibov, Head of Credit Registry at the Central Bank of Azerbaijan, and Aytan Rustamova, EBRD Principal Banker. 

AMFA would like to take this opportunity to express our gratitude to the following sponsors who supported the event: Finance for Development (FinDev), FINCA, Software Group BG and VF Azercredit. 

Winners: This year a five-member Award Committee selected three winners from among fourteen outstanding nominees. In 2011 the best in the following categories were: 

- Unibank ASC as the Organization Supporting Micro-Business in Azerbaijan 
- FINCA Azerbaijan as the Organization holding the Best Customer Complaint Management Mechanism 
- Vijn Fond Azərkredit as the Organization promoting transparent pricing in microfinance industry 

Congratulations to all of the winners and nominees!