Total loan portfolio of microfinance in Azerbaijan increased in August of this year at $ 26.98 million or 2.7% , to $ 997.21 million with 529 thousand customers.
Since the beginning of the year the figure rose by $ 186.659 million , or 23%, and for the year - by $ 257.05 million or 34.7 percent. The share of risky loans, compared with the beginning of the year remained unchanged, amounting to 1%.
According to the Azerbaijan Microfinance Association (AMFA), the largest creditor to its members remains Accessbank, which accounted for 31 % of all micro-credit.
Total registration was conducted on 32 microfinance institutions in the country. Their total assets amounted to $ 4.598 billion. Among the microcredit borrowers 28% were women.
The report reflected the AMFA loans ranging from $ 100 to $ 20,000. -15B-
Economics
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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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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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