Baku, Azerbaijan, Oct. 6
By Azad Hasanli – Trend:
In conditions of high dollarization, Azerbaijan’s banks should support export-oriented customers, according to Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board.
“After two devaluations, the level of dollarization in Azerbaijani banking sector increased significantly. As a result, banks had to give out manat resources from the capital,” he told the 5th Investors’ Fair, titled “Future of Micro-Finance in Azerbaijan: Difficulties and Opportunities” in Baku.
“However, this is not a problem as Azerbaijani banks can also lend in US dollars,” Hasanov said. “For this, it is necessary to help clients who export products.”
Hasanov noted that Azerbaijan’s banks could render non-financial services to their clients, including assistance in improving financial literacy.
Baku hosted the 5th Investors’ Fair, titled “Future of Micro-Finance in Azerbaijan: Difficulties and Opportunities”. More than 100 representatives of financial sector of Azerbaijan and other countries took part in the event.