Omni Finance | MFIs in Azerbaijan

Gross Loan Portfolio USD, 2011: 2.0 million

Number of active borrowers 2011: 270

Average loan balance per borrower USD, 2011: 7,552.7

Deposits USD, 2011: 0.0

Assets USD, 2011: —

Number of depositors 2011: 0

Mission:

Mission of the organization is to support SME with competitive low interest rate loans and help poor people to get access to bank products and other financial services.

Background and Main Challenges:

Omni Finance” LLC is a non banking credit organization that operates in the financial sector of the republic since year 2004. Since its foundation, the organization has established itself in the financial sector as a credit institution providing services at a high level under the title ... Read more

Address:

28 Faig Yusifov street

Baku

AZ1052

Azerbaijan

Phone:

00994125679927

Fax:

00994125980662

Email:

info [at] omnifinance [dot] az

Website:

www.omnifinance.az

Main Funding Sources:

Grants

Loans

Shareholder Capital

Products and Services:

Loans

Leasing

Training and Consulting

Other

Services Provided:

Full-scale Financial Services

Second-tier Lending to MFIs

Business Development Services

Looking for (Investment Types):

Equity

Loans in Local Currency

Loans in USD

Capacity-Building Grants

Donations

Guarantees

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 2004

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in urban areas	1
Clients living in rural areas	2
Women	3
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Employment generation	3
Growth of existing businesses	4
Development of start-up enterprises	5
Youth opportunities	6
Gender equality and women's empowerment	7
Housing	8
Improvement of adult education	9
Children's schooling	11
Health improvement	12
+ Poverty targets
Very poor clients
Poor clients
Low income clients
+ Governance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
SME loans
Loans for agriculture
Housing loans

+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
Microleasing
Factoring.
+ 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).
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
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)
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
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use

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Name	Relationship
AMFA	Network Affiliation
Microfinanza Rating	Rating

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