Azernews.Az

The prices in financial sector are regulated by the market and there is no need for an administrative control in pricing, Member of the Board of Azerbaijan Micro-finance Association (AMFA) Elnur Abbasov said that at the workshop of the 3^rd Investors' Fair.

The AMFA-organized workshop "Responsible pricing and client education: everyone wins" on October 4 as part of the 3^rd AMFA Investor Fair, which was attended by both international and national financial experts.

Noting the necessity of client education by financial institutions, Abbasov underlined the great role of the Centralized Credit Registry (CCR) at the Central Bank of Azerbaijan and emphasized that a "credit history" culture had been formed in the country.

Other workshop participants stated that an administrative interference in pricing in financial sector might push a particular client segment aside from services.

The specific objective of the event was to identify the key practical measures needed regarding client protection for Azerbaijani banks and MFIs, with a particular focus on responsible pricing and client education.

The 3^rd Investors' Fair "Navigating Responsible Finance and Deeping the Stability of the Sector" was aimed to promote relations among MFI's, banks, credit unions and investors, and facilitate exchange of views to deep the stability of the sector.

The event was attended by the representatives of EBRD, Triple Jump, Triodos, KFW, Paşa Bank, EFSE/ Finance in Motion, Commerzbank, Deautche Bank and other institutions.