The Annual General Meeting of the Azerbaijan Microfinance Association (AMFA) was held on October 29. The composition of the AMFA Supervisory Board and the Control and Inspection Commission was renewed at the meeting.

“Muganbank” OJSC was elected a member of AMFA's Supervisory Board and Elmar Sadikhov, Head of the International Financial Institutions Division, was appointed as the bank's authorized representative.

It should be noted that AMFA's mission is to strengthen the potential of microfinance institutions in the country and promote effective joint activities to ensure the interests of the microfinance association and its customers.

“Muganbank” OJSC, one of the well-known institutions of the financial and banking sector of Azerbaijan, was established in 1992. At present, the Bank has 23 branches and 10 sub-branches in the country, as well as a representative office in Moscow, which provides quality services with all types of banking products.

“Muganbank” OJSC cooperates with a number of international financial institutions such as the the US Agency for International Development (USAID), The Belt and Road Bankers Roundtable Mechanism (BRBR) initiated by ICBC Bank - Industrial and Commercial Bank of China, European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), World Business Capital, Inc. (WBC), Overseas Private Investment Corporation (OPIC), Islamic Corporation for the Development of the Private Sector (ICD), The Green for Growth Fund (GGF), The European Fund for Southeast Europe (EFSE) and Sparkassen Stiftung fur Internationale Kooperation (Savings Banks Foundatıon For International Cooperation - SBFIC).