24/05/2016

Moody's Annual Credit Risk Conference, which discussed key credit issues in Azerbaijan and the region, was held in Baku on 24 May, 2016. PASHA Bank's Chief Risk Officer Mansur Mammadov was one of the speakers at the conference. Representatives of the World Bank, state owned corporations and the banking and insurance sectors were among those who took part in the event.

During the conference, experts from Moody's gave presentations on the macroeconomic climate, particularly the recent changes that have been seen in the economies of Azerbaijan and the wider region. These presentations analysed the trends that are impacting the financial sector and explored issues such as the diversification of funding sources and the currency risks facing the CIS countries.

The conference also included a separate panel discussion on global oil price volatility and the impact that the low oil price is having on the business climate in Azerbaijan and on the development of the banking sector. During this discussion, Mansur Mammadov highlighted the positive impact of the economic initiatives the government of Azerbaijan has introduced to help stimulate business activity in the country.

"The present macroeconomic situation opens up opportunities to develop the non-oil sector of the economy, particularly agriculture, trade and services, IT and tourism. With its broad experience of supporting SMEs in non-oil industries, PASHA Bank is best placed to be a reliable partner to the real sector," commented Mr Mammadov.