BAKU, Azerbaijan, December 1. Issues related to the institutional strengthening of non-bank credit organizations (NBCOs) in Azerbaijan, as well as the expansion of their activities, were discussed, Trend reports via the Central Bank of Azerbaijan (CBA).
Fuad Isayev, Director General of the Central Bank of Azerbaijan (CBA), convened with the leadership of the Microfinance Association of Azerbaijan, its members, and representatives from other non-bank credit institutions.
During the meeting, participants were briefed on the financial performance of non-bank credit organizations for the first nine months of the year, along with recent improvements in the regulatory framework and efforts to strengthen the sector. Key topics discussed included expanding financing opportunities, enhancing collaboration with state funds, as well as prospects for operations in regional areas, including the liberated territories and the Nakhchivan Autonomous Republic. Legislative requirements and other pertinent issues were also addressed in detail.
Furthermore, the meeting highlighted the Central Bank's plans for the near future, focusing on initiatives to fortify the non-bank credit sector, broaden its operational scope, and ensure the long-term sustainability of these institutions.