Welcome!

News Feed Item

VF AzerCredit Wins International Finance Magazine's 'Best Microfinance Company Azerbaijan 2013' Award

LONDON, March 18, 2014 /PRNewswire/ --

London-based International Finance Magazine has conferred the "Best Microfinance Company Azerbaijan 2013" award to VisionFund AzerCredit for achieving excellence in its services and demonstrating exemplary corporate social responsibility apart from high financial performance.

     (Logo: http://photos.prnewswire.com/prnh/20140115/663464)

IFM gave the award after a rigorous evaluation of 500 nominations by an internal research team and an external research agency. The International Finance Magazine has a readership across more than 200 countries across the world with more than 1 million average annual visitors.

VF AzerCredit's CEO Ljiljana Spasojevic said in statement: "We have always strived to create more and more opportunities for our customers whose needs are being continuously learned and incorporated into business processes. Constant product refinements and developments by VF AzerCredit contribute to the improvement of the welfare of micro entrepreneurs and self-employed people in Azerbaijan and have brought innovations to the microfinance sector in the country. And we are very excited to know that these achievements of ours have also been recognized with the Best Microfinance Company Azerbaijan 2013 Award by International Financial Magazine, UK."

VF AzerCredit was initially created in 1996 as a program of World Vision, a worldwide relief and development organization, to provide credit to ensure people can take control over their own lives and livelihoods. In 2002 VF AzerCredit was successfully registered as a Limited Liability Company and in 2003 obtained a license from the Central Bank to operate as an NBCO. In 2012 the shareholding structure changed with VisionFund International selling off 24 percent of the equity to Incofin and another 24 percent to Triple Jump while retaining the balance 52 percent. This was done to broaden and strengthen the shareholder base to open up new development opportunities.

Over the last five years, VF AzerCredit's net income has grown from $743,000 in 2009 to over $4 million in 2013. In line with its commitment to social goals and impact investing, the microfinance company currently operates 39 outlets in 32 districts, 22 of which are comparatively underserved rural areas.

The company's total number of active borrowers is over 70,000 and the portfolio is around $70 million. In 2012 only, VF AzerCredit created 817 jobs, sustained 115,884 jobs, provided loans to 20,022 women and impacted the lives of 165,725 children through its various micro-finance programmes.

Speaking at the award-giving function, IFM's publisher Sunil Bhatt said: "The award reflects the dedication of VF AzerCredit to not only financial but also social goals and its passion to deliver best services to its customers by working out new products (including Islamic microfinance products) and delivery channels, among others."

Headquartered in London, the IFM aims at providing information, analysis and insights for the global finance community. During the Annual 2013 IFA Awards, individuals and organizations across the world were rewarded for showing innovation and excellence in the global financial industry.

About  VF  AzerCredit 

VF AzerCredit is a leading microfinance company in Azerbaijan. The mission of VF AzerCredit is to provide financial services which have a positive impact on the lives of the poor. The company currently operates 39 outlets in 32 districts, 22 of which are comparatively underserved rural areas, with a total portfolio close to $70 million. By continuous and active improvement of internal systems, VF AzerCredit has created an environment for future development and expansion into many more rural and remote areas which will be the focus of the organization for the coming years.  

About  International  Finance  Magazine

With its readership spread across more than 100 countries, London-based International Finance Magazine provides exclusive reports, analysis and commentary on banking, capital markets, wealth management, Islamic finance and technology.

Website: 

http://www.internationalfinancemagazine.com

Twitter  and  Facebook:

https://www.facebook.com/InternationalFinanceMagazine

Videos:

http://www.internationalfinancemagazine.com/video

Email: [email protected]

Press  Contact:

Mark Miller

Phone: +44(0)208-144-3624

Email: [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Building custom add-ons does not need to be limited to the ideas you see on a marketplace. In his session at 20th Cloud Expo, Sukhbir Dhillon, CEO and founder of Addteq, will go over some adventures they faced in developing integrations using Atlassian SDK and other technologies/platforms and how it has enabled development teams to experiment with newer paradigms like Serverless and newer features of Atlassian SDKs. In this presentation, you will be taken on a journey of Add-On and Integration ...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership abi...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...