BAKU, Azerbaijan, Apr. 29
By Fidan Babayeva - Trend:
Azerbaijan’s Credit Implementing Agency (CIA) non-bank credit organization (NBCO) has implemented and maintained a system of online applications on microcredit from clients through the organization’s website for several years, Chairman of CIA Arif Aliyev told Trend on April 29.
Work is underway on introduction of the online payment for loans issued by NBCOs, which is to be completed soon, Aliyev said.
As for remote work, at the end of March, the organization already established access for relevant employees to the central information system, he said.
“Given that the quarantine regime was introduced in the country on holidays from March 24 and that the organization tested its technical capabilities for remote work in 2019, this task was rather simple. Furthermore, the active participation of employees of online conferences and the use of other modern technologies allowed the organization to continue its productive activities in these difficult days,” said the chairman.
“For example, all quarterly reports of 2019 were jointly prepared by corresponding NBCO’s structures and approved by management in a remote mode. As for our clients, a rather significant part of them keeps in touch with the organization through popular social networks. Given the latest developments, we intend to continue to actively introduce and use appropriate technologies for virtual work with clients and personnel management,” Aliyev noted.
“The [national] Strategic Development Plan, approved for 2020, implies the phased implementation of certain technologies that have already proved their effectiveness. A number of proposals have also been developed, with the use of which it will be possible to more effectively assess risks on lending to small and medium-sized households, rural credit unions or their members,” the CIA's chairman said.
The Credit Implementing Agency was registered by the Ministry of Justice of Azerbaijan on September 9, 2002, and was re-registered on October 25, 2002.
In the period from 2002 to 2012, CIA served as the agent-executor of the project on development and lending in agriculture sector. This project was carried out in accordance with the Credit Agreement concluded between Azerbaijan and the World Bank on October 4, 1999.
The project provided short-term loans for the development of small agricultural enterprises through credit unions, groups of borrowers and individual farms.
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