Azerbaijani NBCO talks expansion of financing, lending opportunities for population
BAKU, Azerbaijan, May 31
By Fidan Babayeva - Trend:
Azerbaijan’s Finex Kredit Non-Bank Credit Organization (NBCO) OJSC has approved and financed projects of a large number of farmers and entrepreneurs in the country’s various regions, Chairman of the Board of the NBCO Finex Kredit Rashad Gasimov told Trend.
As part of the projects, new jobs were also created.
The chairman said that the NBCO issued 1,156 loans worth over 4.5 million manat ($2.6 million) to farmers and entrepreneurs of the agricultural sector.
The Finex Kredit is an authorized agent of the Entrepreneurship Development Fund, actively cooperates with the Agrarian Credit and Development Agency under the Ministry of Agriculture, Gasimov emphasized.
“In 2019, the organization actively worked in the securities market and is an issuer of high-yield corporate bonds. By the decision of the Listing Committee of the Baku Stock Exchange (BSE), on December 24, 2015, Finex Kredit NBCO entered the top three companies whose securities were included in the BSE’s listing as an alternative financial instrument for corporate and private investors,” he said.
“The Finex Kredit is a member of Azerbaijan Micro-finance Association (AMFA) for more than two years. Being an active participant of the Azerbaijani microfinance market, the organization decided to step up its activities as part of the AMFA and developed an extensive cooperation program,” Gasimov added.
“We also have close ties with leading banks and insurance organizations in our country. As a result, we have strong financial support, the possibility of expanding financing and lending to the population, as well as the scope of Finex Kredit's activities,” the chairman emphasized.
Gasimov noted that the official external auditor of the organization is RSM International Ltd. audit company, whose report is published annually in the media.
Finex Kredit has been operating since 2013 and builds its activities on the basis of the principles of transparent partnership in accordance with modern international financial standards. Over the years, the organization is growing steadily, increasing profit every year. New branches are opened in Baku and in the regions. Presently, the organization has 11 points of sale with its head office in Baku.
(1 USD = 1.7 manat on May 31)
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