BAKU, Azerbaijan, May 16
By Fidan Babayeva - Trend:
Azerbaijan’s Finance for Development Non-Bank Credit Organization (NBCO) widely uses fintech apps to ease loan payment process, and in 2020 it will expand this sphere, Chairman of the board of the NBCO Jalal Aliyev told Trend.
According to him, customers are offered different tools for obtaining loans.
“Customers can get a loan by taking it from the card to which the loan amount has been transferred. Moreover, the borrowers can pay loans through our fintech apps,” he said.
"The payments on loans can be made through AzerPost, e-Manat, MilliOn terminals and other devices. We plan to use such payment systems this year," Aliyev stressed.
Touching upon the topic of problem loans, the chairman noted that the decree of Azerbaijani President Ilham Aliyev dated February 28, 2019, allowed to solve the problems of those people, who had loans in foreign currency and in very large amounts.
The decree addressed a very important social issue, he added.
"In this context, Finance for Development NBCO has also carried out work by restructuring a large volume of loans. We have already restructured more than 90 percent of loans. The rest are mainly loans from individuals abroad, mainly in Russia," he said.
Aliyev noted that NBCO has made an internal decision on loans to individuals who are members of martyr families and provides them with the opportunity to pay off their debts with the help of special benefits.
Finance for Development NBCO is a credit organization created by the Oxfam international humanitarian organization (UK) to provide financial services on a permanent basis to working people who do not have access to alternative financial services.
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