In order to contribute to the financial literacy of entrepreneurs running small and medium sized businesses PASHA Bank in 2012 held a seminar in co-operation with the Central Bank of Azerbaijan and International Finance Cooperation (IFC) entitled “Access to finance for representatives of small and medium enterprises”.
More than 60 participants from different industries attended the seminar. Participants of the seminar were introduced the methods of work of Centralized Credit Registrar (CCR), opportunities of access to the information from Registrar and other aspects of CCR activities, as well as the experience of IFC in support of the representatives of small and medium businesses.
We presented information on what positive credit history means and how it affects the business of the loan borrower. The presentation of PASHA Bank was aimed at awareness-raising among SME that positive credit history is a helpful “financial passport” of the businessmen, however is not the sole factor that banks pay attention to. Banks are also interested in current status of the client’s business, financial returns / statements and management methods, including management of financial reports.
We support efforts of the government focused at the financial literacy of the population. Our Bank collaborates closely with State Securities Committee in various projects that increase the awareness of the population in securities market and educates society in capital market. We supported the SSC project - “collection of articles on capital markets and the opportunities provided by capital markets” – that was realized in line with the Presidential Decree on the “Development of the Securities Market in Azerbaijan in 2011 - 2020”.
The project of State Securities Committee with the journalists - the best article on “Capital markets: trends, challenges and opportunities” dedicated to the evolving securities market of Azerbaijan – was also supported by our social responsibility program. The project was in line with our corporate strategy - focused on the advising the population and business community on the capital and securities. This project was encouraging for the journalists who write about capital markets and financial sector and awarded successful media representatives.
As guided by our corporate strategy we support efforts aimed at developing students. Our Bank in partnership with SSC implemented essay competition on “Azerbaijan 2020: The role of the capital markets in the development of the economy”. The project was aimed to involve the students from the economics discipline to the current processes and programs in the country so that the young generation feels ownership in the changes which will ultimately benefit them. Participation in the changes means also sharing the responsibilities for the results. When contributing to the programs we also consider close involvement of the beneficiaries to the projects.