U.S. Supports Strengthening Azerbaijan Bank SME Services
USAID recently announced that its Financial Sector Stability Program (FSSP), implemented by Bankworld Inc., will now provide technical advisory and training services to local Azerbaijan commercial banks. As part of FSSP, Bankworld Inc signed Memoranda of Understanding (MOUs) with five banks: ATRABank, Azerdemiryol Bank, Mugan Bank, NBC Bank, and Royal Bank of Baku on September 19. 2008. The MOU’s will support the banks’ development and strengthening of sustainable financial intermediation services to the small and medium enterprise (SME) sector.
Bankworld Inc. provides advisory and training services that incorporate international SME best practices in the delivery of financial intermediation services. These globally-tested practices address: credit officer training in assessing services and methodologies appropriate to the SME sector; effective portfolio quality, credit administration, and risk management practices; bank domestic deposit gathering, product development, and operational opportunities; and, Management Information Systems (MIS) utilization in constructing effective financial reporting and analysis tools.
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| Scott Taylor, Bharat Bhargava and each bank’s chairman made opening remarks at the event. |
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