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MFI Report
FINCA - AZE
4
FINCA Azerbaijan
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Gross Loan Portfolio
USD, 2010
:
84.1
million
Number of active borrowers
2010
:
97,819
Average loan balance per borrower
USD, 2010
:
860.2
Deposits
USD, 2010
:
0.0
Assets
USD, 2010
:
94.9
million
Number of depositors
2010
:
0
Mission:
To provide financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living.
Background and Main Challenges:
Human Resources (recruitment & retention).
Address:
Jafar Jabbarli Street 44 Caspian Plaza, 8th floor
Baku
370014
Azerbaijan
Phone:
+994-12-596-3384
Fax:
+994-12-596-3387
Email:
makhmud [dot] saidakhmatov
[at]
finca [dot] org
Website:
www.FINCAazerbaijan.com
Main Funding Sources:
Loans
Products and Services:
Loans
Products:
Loans
Largest Funder
EBRD, responsAbility, Symbiotics
% Operations Comprised by MF:
91 - 100
Date established:
Apr 1 1998
FYE:
31-Dec
Current Legal Status:
NBFI
Regulated:
yes
Social Performance Profile
+
Mission specifics
+
Target markets (ranked by importance)
Clients living in rural areas
1
Clients living in urban areas
2
Women
3
+
Development goals (ranked by importance)
Increased access to financial services
1
Poverty reduction
2
Employment generation
3
Growth of existing businesses
4
+
Poverty targets
Poor clients
Low income clients
+
Governance
Has trained members of its board on social performance management
Has a formal board committee that monitors social performance
+
Range of products and services
+
Financial products and services offered
+
Credit products offered
Microcredit loans for microenterprises
SME loans
Loans for agriculture
+
Savings products offered
+
Compulsory insurance products required
+
Voluntary insurance products offered
+
Other financial products and services offered
+
Non-financial services offered
+
Enterprise services offered
+
Education services offered
+
Health services offered
+
Women's empowerment services offered
+
Products and services targeting the poor
Products and services specifically designed to target the poor:
+
Social responsibility to clients
+
Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+
Cost of services to clients
Declining balance interest method
+
Social responsibility to staff
+
Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+
Basis of staff incentives related to social performance
Ability to attract new clients from target market
Portfolio quality
+
Social responsibility to the environment
This institution includes specific clauses in its loan contracts to mitigate specific environmental risks
+
Poverty measurement tools in use
FINCA Client Assisment Tool.
Partnerships
Current
Name
Relationship
FINCA International
Network Affiliation
MFSI
Vendor
Oikocredit
Funding
responsAbility Global Microfinance Fund
Funding
Triodos Fair Share Fund
Funding
Triodos Microfinance Fund
Funding
Triodos-Doen Foundation
Funding
Related Organizations
Current
Name
Relationship
Smart Campaign
Endorsement
At a glance
Assets
Gross Loan Portfolio
Equity
Contacts
Makhmud Saidakhmatov
makhmud [dot] saidakhmatov
[at]
finca [dot] org
994-12-596-3384
Manish Sane
Country Director
manish [dot] sane
[at]
finca [dot] org
+994-12-596-3384
Vadym Karmalita
Chief Operations Manager
vkarmalita
[at]
fincaazerbaijan [dot] az
+994-12-596-3384
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February 4, 2012 - 12:16pm
MFI Report
