Azerbaijan Microfinance Association (AMFA) held its 4^th bi-annual microfinance conference “10 years of Best Practice”. The two day conference was organized to mark the development of AMFA over the past 10 years but more importantly discuss the development of microfinance in Azerbaijan especially its valuable contribution to the overall economic growth and business development.

Many high profile and important figures participated in the opening session of the conference including the Deputy Prime Minister Ali Hasanov, the Chairman of Parliament Commission for Economic Policy Ziyad Samadzade, the US Ambassador Anne Derse, the Deputy Chairman of the Azerbaijan National Bank Rufat Asllanli etc. The conference was attended by around 200 representatives from local and foreign institutions, including 60-people delegation from 26 institutions based in 17 countries. Among the conference participants were many representatives from different Development Finance Agencies (EBRD, IFC, DWM), Investors (Incofin, Microvest, DevFIn Equity Partners, Cyrus Microfinance, Tripple Jump, Cyrano Management, Kolibri Kapital), Donor Organizations (USAID, UNDP), Microfinance Practitioners and Banks (KIVA, FINCA International, Access Bank, Bank Respublika, etc).

FINCA Azerbaijan was well represented in the conference and was honoured with the “Most Sustainable MFI Award”. This award was part of AMFA’s award program which also included three other award categories: a) Best Community Impact Provider b) Most Innovative Product Service/Methodology / outreach Strategy and c) Emerging Newcomer award. The Most Sustainable MFI Award recognised the financial institution for its outstanding achievement in the field of microfinance through the provision of quality services and products and for creating environmental, social and financial value across its operations. Four major key indicators 1) Social Impact 2) Institutional Capacity 3) Governance and 4) Profitability and Efficiency were the determining factors for selection of the winning applicant. FINCA Azerbaijan applied for the award by describing its overall strategic approach towards sustainability for example its excellence in social impact responsibility, ability to be innovative for future growth, outstanding profitability and the concept of double bottom line. Among other applicants who competed for the awards were CredAgro, Access Bank, FinDev, Bank Respublika, Azeri Star, Vision Fund etc.

FINCA Azerbaijan is very proud of such achievement and strives to be the leader in the microfinance field in Azerbaijan.