Baku, Azerbaijan, Aug. 22
By Azad Hasanli – Trend:
Participants of Azerbaijan’s microfinance market, interested in the expansion of the loans market, stand in favor of the hedge fund establishment, Jalal Aliyev, financial expert, a member of the Board of Azerbaijan Microfinance Association (AMFA), told Trend.
He said that, the related request was sent to the Central Bank of Azerbaijan (CBA), but there has not been any progress on this issue so far.
“It was proposed to create a hedge fund in Azerbaijan, to insure risks on dollar funds attracted from the foreign investors, and issue manat loans to local clients,” he noted. “This would help to significantly expand the microfinance organizations' loan market.”
The introduction of hedging tools is provided by a strategic road map for the development of the main sectors of Azerbaijan’s economy. Nevertheless, the road map doesn’t particularly indicate the possibility of separate funds creation.