Azerbaijani banks association, business development agency to ink memorandum

The Association of Banks of Azerbaijan (ABA) and Azerbaijan’s Small and Medium Business Development Agency (SMBDA) under the Economy Ministry will sign a memorandum, ABA President Zakir Nuriyev said.

He made the remarks commenting on the results of a meeting with SMBDA Chairman Orkhan Mammadov, Report informs.

"The main purpose of our meeting was to discuss the problems and take measures to solve them. At the same time, we agreed on signing a memorandum and creating working groups which will answer all questions of entrepreneurs within the framework of this document. As you know, the Central Bank of Azerbaijan has also established a department to protect the rights of consumers. The problems of entrepreneurs and consumers should be solved within the framework of these working groups and the department,” he noted.

ABA was established in 1990 by commercial banks. The main purpose of ABA is to represent member organisations, to provide support in meeting their needs for various types of business services, and to coordinate their activities. Currently, 25 banks and 5 non-banking organisations are members of ABA.