17.04.2019. FIMSA ARMSB and ABA will work closely together!

A letter of intent was signed between the Chamber of Control of Financial Markets (PCFM), the Small and Medium Business Development Agency (ARMSB) and the Association of Banks of Azerbaijan (ABA) on April 17. The protocol was signed by Ibragim Alishov, Chairman of the Board of the National Scientific-Research Port of Orlov, Orkhan Mammadov, Chairman of the Board of SMEA and Zakir Nuriev, President of the ABA.
SMEA, MBNP and ABA will cooperate to increase access to financial resources for small and medium-sized enterprises (SMEs) and increase their financial literacy. According to the document, the Chamber of Control over Financial Markets, ARMSB and ABA will create a joint advisory platform to discuss the effectiveness of state financial support for financing SMEs and the effectiveness of existing mechanisms in private financial and credit organizations, introducing innovative and alternative financing mechanisms based on international experience in financing SMEs. explore opportunities for SMEs to collaborate in promoting access to the securities market and promoting the use of appropriate market-based tools.
At the end of his speech, Ibrahim Alishov spoke about the positive changes in the country's financial markets as a result of measures taken to develop the non-oil sector, steps taken to improve the efficiency of SME access to financial resources and loans in the framework of the “Strategic Roadmap for the Development of Financial Services in Azerbaijan Republic ". and various incentive measures to stimulate SME financing. The academician noted that the Decree “On Additional Measures to Resolve the Problem Problems of Individuals in the Republic of Azerbaijan”, signed by the head of state on February 28, 2019, will ensure the liquidity of banks through cheap financial resources, which, in turn, will provide a new revival in the economy, providing entrepreneurs access to cheap financial resources.
President of the Association of Banks of Azerbaijan Z.Nuriyev stressed the importance of a deliberate protocol and said that a new platform will be formed to discuss the development of financial access to small and medium-sized businesses, which will allow the government and credit organizations to use existing mechanisms that provide financial support to SMEs. international experience and needs of entrepreneurs. Thus, the study of the financial needs of small and medium-sized businesses will be carried out in a more consistent manner to support business activities in priority areas and their training.