The active loan portfolio of non-bank credit organization LLC Finca Azerbaijan increased during the 10 months of this year by $ 43 million or 28.2 % to $ 195.57 million. In the portfolio the share of micro credit was 98.7 %.
Assets of the company increased by $ 48.9 million , or 29.3 %, reaching on November 1, 2013 level of $ 215.79 million. Total number of customers increased during the reporting period by 8.8% to 148.94 thousand persons.
The share of problem loans in the total loan portfolio compared to the beginning of the year increased by 0.05 percentage points to 0.24 %, and the share in micro credits - by 0.09 percentage points to 0.24 %.
For all-time company issued loans totaling $ 818.737 million , including micro-credit - to $ 787.995 million
Finca Azerbaijan has been operating since 1998. It is part of an international network of microfinance Finca International. The company carries out lending for a period of 4 to 24 months. Loan amount varies from $ 50 to $ 100 000. The interest rate on loans varies in the range 21-36 %. - 15B -
Economics
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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