11:10 - 23.10.2024

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October 23, Fineko/abc.az. Increasing financial inclusion of households in Azerbaijan will contribute to development of the financial sector.

ABC.AZ reports, quoting Jalal Aliyev, the chairman of the Supervisory Board of the Azerbaijan Microfinance Association, as saying this at the event "Innovative solutions for sustainable microfinance".

He pointed out that development of innovations in the field of microfinance plays a very important role in economic growth.

"The introduction of digital platforms allows microfinance institutions (MFIs) to better serve populations with limited access to traditional financial services tools and channels, increasing financial inclusion and contributing to poverty reduction. However, it is important that MFIs act cautiously in the digital environment, addressing issues such as digital literacy, data privacy and cybersecurity," Aliyev emphasized.

By Elmir Murad