Azerbaijan Micro-finance Association


Baku, Azerbaijan - AMFA offers leading edge market research and benchmarking studies for the Azerbaijan micro-finance community, working to ensure that its members have access to international microfinance expertise. AMFA continuously upgrades and enhances the skill set of its member base through trainings and educational information, fostering a dynamic and knowledgeable microfinance industry.

We're looking for know-how to:

  • Improve marketing and communication materials
  • Strategic planning
  • Utilize new technologies 
  • Develop capacity and leadership skills
  • Lobbying and advocacy
  • Financial management
  • Governance systems and procedures

Our members need:

  • Market information
  • Financial education
  • Access to networking opportunities
  • International visibility
  • Access to diversified sources of debt and equity

Mission statement:

To strengthen the capacity of micro-finance institutions and to promote effective collective action in advancing the interests of the micro-finance community.

Established: 2004
Chief Executive: Mrs. Jhale Hajiyeva, Executive Director

Major activities:

  • Prepare micro-finance statistics on a quarterly/monthly basis
  • Lobbying and advocacy activities
  • Information dissemination on best-practices in microfinance
  • Financial intermediation
  • Provide credit ratings
  • Organize bi-annual National Microfinance Conferences
  • Raise awareness on international initiatives

Major achievements:

  • Advocacy
    • Microfinance programs were allowed to register as LLC (2003)
    • Special license “for non-bank credit organizations” was issued for MFIs
    • Special license fee was reduced from 5,500 USD to 110 USD (2003)
    • Law on non-bank credit organizations was signed into law (2010)
    • Amendments to Centralized Credit Register made in 2011 to allow MFI to report and make enquiries on clients' credit history
  • Membership growth
    • 2008: 26
    • 2009: 27
    • 2010: 29
Income sources (2010)
  • Membership dues: 40%
  • Non-dues income
    • AMFA annual award dinner: 4%
    • 2nd investors fair/conference: 21%
    • Training fees: 1%
    • CSR project: 27%
    • Other revenues: 7%
  • Home government funding: 0%

3-5 year outlook:

  • Achieve positive impact on financial sustainability via development of fee based products
  • Feasibility study on establishment of the endowment fund (long term fundraising opportunity)
  • Establishment of Debt Counseling centre for Clients
  • Focusing on membership values via improving existing products and services

Organization wish list:

  • Develop insurance mechanism for agricultural credits
  • Increase financial education for clients
  • Facilitate introduction of the new financial services that benefit low income families 
  • Establish a debt counseling center