Total loan portfolio of microfinance in Azerbaijan rose in May of this year at $ 33.07 million , or 3.7% , to $ 920.310 million for 499 thousand customers.
Since the beginning of the year the figure rose by $ 109.76 million , or 13.5 %, and for the year - by $ 195.94 million or 27.05 percent. The share of risky loans compared with the beginning of the year increased by 1 percentage point to 2%.
According to the Azerbaijan Microfinance Association (AMFA), the largest creditor to its members remains Accessbank, which accounted for 31.3 % of all micro-credit .
Total registration was conducted on 33 microfinance institutions in the country. Their total assets amounted to $ 4.402 billion. Among the microcredit borrowers 28% were women.
The report reflected the AMFA loans ranging from $ 100 to $ 20,000. - 15V -
Economics
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The State Tax Service (STS) of Azerbaijan has issued an urgent warning to citizens regarding a surge in fraudulent activities exploiting the name of the country's VAT refund project. According to the STS, cybercriminals have been creating counterfeit websites and online pages that closely mimic the official internet resources of the State Tax Service, luring unsuspecting citizens with promises of VAT refunds.
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Azerbaijan's foreign trade balance showed a positive surplus of $4 billion in the first half of 2024, according to data from the Central Bank of Azerbaijan (CBA) on the parameters of the interest rate corridor.
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