The active loan portfolio of non-bank credit organization LLC Finca Azerbaijan increased during the 8 months of this year by $ 33.05 million or 21.6 % to $ 185.62 million. In the portfolio the fraction of microcredit was 99.4 %.
Assets of the company increased by $ 39.01 million , or 23.3 %, reaching on September 1, 2013 level of $ 205.88 million Total number of customers increased during the reporting period by 6.9 % to 146.51 thousand persons .
The share of problem loans in the total loan portfolio, compared with the beginning of the year, remained at 0.19 %, and micro lending rose by 0.04 percentage points to 0.19 %.
Total the company has issued loans totaling $ 791.43 million, including micro loans - $ 787.99 million.
Finca Azerbaijan was established in 1998. It is part of an international network of micro finance company Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 100 000 . The interest rate on the loans varies in the range of 21-36 %. - 15B-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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