Azerbaijan, Baku, July 20 /Trend A.Akhundov/
Azerbaijan needs to develop agricultural insurance policies, CEO of FINCA Azerbaijan Manish Sane told journalists on Friday.
"Agricultural insurance in Azerbaijan is weak and there is a lack of quality products and services in this area," Sane said.
He noted that FINCA Azerbaijan is closely cooperating with insurance companies and interested in the development of this mechanism.
He added that working conditions for non-bank credit institutions (NBCI) has improved with the growth of incomes in the country.
"The transition of NBCO under the regulation of the central Bank of Azerbaijan in 2010 became an important event for the development of this market," Sane said.
FINCA Azerbaijan has 30 branches and 36 sub-branches which provide customers with financial products and services, including rural loan groups, solidarity loan groups, individual express loans and loans for small and medium-sized businesses, as well as individual agricultural loans.
The FINCA Azerbaijan non-bank credit organisation is a subsidiary of the microfinance holding FINCA, managed by FINCA International Inc., which operates in 22 countries around the world and creates a global network of partner experience.
FINCA microfinance holding's mission is to assist low income entrepreneurs in creating the assets required for raising living standards. It is supported by funding from the distributed socially responsible investments of the partnership funds.