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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