According to a recent article from ABC.AZ, a business information website in Azerbaijan, a poll administered by the Azerbaijan Microfinance Association (AMFA) showed that 28 percent of participants are dissatisfied with the “quality of services upon getting consumer loans.” The purpose of the poll was to analyze domestic income and expenditure patterns and assess the population’s understanding of financial services and personal finance. The majority of respondents that were unhappy with the quality of their financial services were from smaller cities (43.5 percent) and rural areas (14.8 percent), rather than from main cities like Baku, the capital of Azerbaijan. Many of those that found it difficult to make bank deposits or take out business loans live in poorer regions of the country. About 1,207 people from 9 economic regions of the country participated in the poll.

About the Azerbaijan Microfinance Association (AMFA):

The Azerbaijan Microfinance Association (AMFA) is an organization with over 31 member microfinance institutions (MFIs) across Azerbaijan. It started informally in the mid-1990s to help meet the economic requirements of internally displaced persons (IDPs) and began a formalized alliance of what would become the AMFA in 2001. It utilizes “knowledge management, policy advocacy, and technical services” to “advance the interests of the micro finance community” in Azerbaijan. Its three “Strategic Pillars” are “Innovative Products and Services,” “Continuing Education,” and Industry Expertise.” AMFA also offers services to improve financial management at medium-sized and larger institutions.

Bibliography:

[1] ABC.AZ 28.3% of Azerbaijani population dissatisfied over quality of services rendered upon receiving consumer loans. http://abc.az/eng/news_09_01_2010_41617.html

[2] AMFA. http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Azerbaijan+Microfinance+Association+(AMFA)