IDB’s ICD to study potential of Azerbaijan's microfinance market

Business Materials 26 September 2016 16:00 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Azad Hasanli – Trend:

A delegation headed by Samir Taghiyev, senior regional manager of the Islamic Corporation for the Development of the Private Sector (ICD) for CIS and Europe countries, will visit Azerbaijan’s capital Oct. 6.

ICD representatives will attend the 8th Micro-finance conference of the Azerbaijan Micro-finance Association (AMFA) that will be held on Oct. 6-7.

During the visit, the ICD delegation will meet with representatives of Azerbaijan’s financial sector to study the potential of micro-finance market and works done in this sphere.

The conference will also be attended by representatives of Germany’s KfW Development Bank, the Islamic Development Bank, Software Group, responsAbility Investments AG, the European Fund for Southeast Europe (EFSE) and others.

The event is organized by PASHA Bank OJSC, Aqrarkredit Joint-Stock Commercial Agro-Industrial Bank, non-bank credit organizations Finca and CreditInfo.

The Islamic Corporation for the Development of the Private Sector operates in Azerbaijan since 2003. The ICD is mainly financing small and medium-sized businesses. The corporation is also a founder of the leasing company Ansar Leasing and a co-founder of the Caspian International Investment Company CJSC in Azerbaijan.

The ICD was established in 1999 and is based in Jeddah, Saudi Arabia. Its main objective is to finance the private sector of the organization’s member countries.