Azerbaijani bank awarded with int'l certificate
Azerbaijan, Baku, July 14 / Trend /
Azerbaijani DemirBank was awarded with "Silver" certification for the socio-directed activity for 2010 from Microfinance Information Exchange Market Inc., the bank said.
International information provider Microfinance Sector Microfinance Information Exchange Market Inc. was established by such well-known organizations such as CGAP, Michael & Susan Dell Foundation, Ford Foundation.
Microfinance İnformation Exchange Market Inc. conducts an annual assessment of the social orientation of banks and microfinance institutions on 22 key parameters.
"The bank's participation in various activities on the socio-economic development of regions, an extensive regional branch network, lending to businesses, micro-credit programs for broad layers of population, increasing the access of the population and companies to bank services and financial resources can be noted among DemirBank's factors. The bank developed a strategy for corporate social responsibility ", Deputy Chairman of the Board Yusif Jabbarov said.
DemirBank cooperates with more than 15 international microfinance institutions, which attach great importance to the social orientation of the bank. The availability of this certificate is a clear indication of this.
An international rating agency, Planet Rating, has assigned the Azerbaijani DemirBank a social rating.
DemirBank was also awarded an honorary degree in October 2009 for social activity.
It was awarded at a ceremony to mark the 5-th anniversary of the state program of socio-economic development of regions in the category "Money, Credit and Banking". The Bank also received an honorary diploma in February 2010 in the nomination "The fruitful work with young people" within the national award "Friend of Youth".
One of the first banks of Azerbaijan, DemirBank (formerly Azerdemiryolbank) has been operating since October 1989. The bank's shareholders include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).