Baku, Azerbaijan, March 1
Azerbaijan hosted presentation of a new credit rating model project, jointly created by the Azerbaijan Mortgage and Credit Guarantee Fund and KPMG Azerbaijan, a global company providing audit, tax and advisory services, Trend reports with reference to the Fund.
The presentation was attended by representatives of the Central Bank of Azerbaijan (CBA), the Financial Market Supervisory Authority (FIMSA), the Economy Ministry, as well as banks and international financial institutions.
The new credit rating model has been prepared in accordance with the “Procedure for application of the credit rating system and other risk management tools” approved by decree of the Azerbaijani president dated Nov. 29, 2017.
During the event, it was said that the model that is being created in order to minimize credit risks, will allow evaluating the solvency of business entities and determine the degree of risk. The assessment process will be conducted by analyzing financial and non-financial indicators and measuring early warning signals.