PASHA Bank has organized the seminar for SMEs

Baku hosted a seminar entitled "Access of small and medium enterprises (SMEs) to finance." The event was organized by PASHA Bank and carried out with the support of the Confederation of Entrepreneurs of Azerbaijan and the Central Bank of Azerbaijan (CBA).

The seminar, held at the Hilton, was attended by representatives of over 60 participants. The event invited speakers - Director of the Central Credit Register (CCR) at CBA Elchin Habibov, Communications Specialist IFC Rasmina Gurbatova, coordinator of the IFC project to strengthen the financial infrastructure in Central Asia and Azerbaijan Teymur Eybatov, manager of the Department for assessing credit risks PASHA Bank Yalcin Abdullaev, who responded to the issues one way or another related to the development of small and medium enterprises.

Thus, the participants got acquainted with the method of work, the ability to access information from the Central Credit Register and by other factors that affect the activities of CDC, IFC's experience in working with small and medium-sized businesses, as well as professional looking one of the largest banks of the country - PASHA Bank - on current the availability of a positive credit history and its influence on the development of the business of the borrower. Noting that the communication in the course of the event was very productive, some participants expressed wishes to participate in new activities involving the CBA, IFC, PASHA Bank and the Confederation of Entrepreneurs of Azerbaijan.

As noted after the event Y. Abdullaev, the main goal, which he pursued during his speech - to break some stereotypes wrongly average companies from the SME sector. "The main focus I decided to do on the fact that the discharge of a credit registry, ie customer's credit history is of great importance for banks - in a figurative sense, it can be called that kind" Financial passport "of the borrower. However, this is not the only factor on which banks are paying attention. They are more interested in the current state of the client's business, financial statements and the management, including financial management and reporting. Unfortunately, many customers equate the concept of accounting and financial management, and they also then have to waste days and weeks to prepare appropriate reports for submission to the bank. To speed up these processes, PASHA Bank always help our clients and is ready to provide consulting services to continue," he stressed.

Recall that the cooperation with the representatives of SMEs is one of the new and the main activities of PASHA Bank. Because of this one of the objectives of the Bank is to increase the financial literacy of the business community, representing the SME sector.

JSC PASHA Bank was created in June of 2007 and operates under license number 250 of the Central Bank of Azerbaijan Republic dated 28 November of 2007. Its primary objective is to strengthen leadership in the corporate customer service and achieve quality improvement of business on priorities and strategy, as well as the creation and continued development of long-term and trusting relationship. -15D -