Azerbaijan, Baku, Oct. 8 /Trend/
"As the prices in financial sector are regulated by the market, there is no need for an administrative control in pricing", stated Elnur Abbasov, the Deputy Director of Credit Department of "Muganbank" OJSC, also the Member of the Board of Azerbaijan Micro-finance Association (AMFA) in the workshop of the 3rd Investors' Fair.
The AMFA-organized workshop "Responsible pricing and client education: everyone wins" was held on October 4, 2013 at "Hyatt Regency" hotel in Baku. The workshop took place as part of the 3rd AMFA Investor Fair where both international and national financial experts had been invited.
The specific objective of the event was to identify the key practical measures needed regarding client protection for Azerbaijani banks and MFIs, with a particular focus on responsible pricing and client education.
Elnur Abbasov, stating the necessity of client education by financial institutions underlined the great role of The Centralized Credit Registry (CCR) at the Central Bank of Azerbaijan Republic, and emphasized that a "credit history" culture had been formed in the country.
Other workshop participants stated that an administrative interference in pricing in financial sector might push a particular client segment aside from services, and that client education and clients' understanding their obligations before taking a credit is necessary.
The objective of the 3rd Investors' Fair "Navigating Responsible Finance and Deeping the Stability of the Sector" is to promote relations among MFI's, banks, credit unions and investors, and facilitate exchange of views to deep the stability of the sector. The event was attended by the representatives of EBRD, Triple Jump, Triodos, KFW, Paşa Bank, EFSE/ Finance in Motion, Commerzbank, Deautche Bank and other institutions.
To view the Photos of the event please visit: http://www.muganbank.az/en/press/news/1378.htm
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