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OUR MISSION IS TO PROVIDE FINANCIAL SERVICES
WHICH HAVE A POSITIVE IMPACT ON THE LIVES
OF THE POOR 
Vision Fund AzerCredit was established in 1996 as a program of World Vision Azerbaijan, a 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 obtained Central Bank license in 2003.
Although much has changed since then, the vision of VF AzerCredit is still to assist people in developing a positive and self-sustainable lifestyle.
The mission of VF AzerCredit is to provide financial services which have a positive impact on the lives of the poor.
The primary objective of VF AzerCredit has always been to provide loans to those who are not able to access facilities through the conventional banking system. This implies that AzerCredit works both in the urban and rural areas of Azerbaijan but the emphasis is placed on providing loans to micro and small rural entrepreneurs and self-employed poor, covering remote areas which are not bankable. However the sole focus on loan is being replaced by a wider view on microfinance now as VF AzerCredit has developed into a strong financial institution.
Constant product/process refinements and product developments introduced by VF AzerCredit brought innovation to the microfinance sector of Azerbaijan. New product delivery mechanism of Village council, which is tested and now is being practiced in remote areas, is a new way to improve the outreach into far-away villages and remote areas. Product diversification continues by means of extensive researches of target clients’ needs.
Currently AzerCredit provides following products to the target clients: Group Urban and Group Rural Loans, Individual Urban and Agriculture Micro Loans, Individual Urban and Agriculture Small Loans and Household Loans for Small and Micro Entrepreneurs.
AzerCredit operates in 21 regions, 14 of which are comparatively underserved rural areas. Rapid growth of the branch network in underserved rural areas provides the foundation for continued growth in the coming years.
By the end of 2010 total number of active borrowers is 33 400 and the portfolio is over $23 mln. In line with these figures AzerCredit keeps an outstanding portfolio quality, as PAR>30d is 0,4%. Being an equal employment opportunity provider, AzerCredit comprisesof 260 staff members, who are the main asset of the organization.
The organization is actively investing in developing social performance management system as a part of its strategic plan, as it looks to support the double bottom-line. The poverty measurement tool has been introduced and is permanently used at VF AzerCredit starting from October 2009. The poverty measurement tool provides an opportunity to measure the poverty level of targeted clients and in future will help gauge the impact of AzerCredit on the lives of the poor.
VF AzerCredit recently started active development of Customer Service Strategy. The first step in this direction was creation of reliable feed-back system of customer grievance and suggestions. Client Relationship Management will be one of the core directions of VF AzerCredit in coming years.
In 2008:
- We received recognition certificate from Azerbaijan Microfinance Association as acknowledgement for pioneering participation in Advancing Social Performance Management in Azerbaijan, which included undergoing the process of Social Audit;
- "The Best Community Impact provider in Azerbaijan" nomination was awarded by Azerbaijan Microfinance Association, thus the organization was recognized as the MFI with the best community impact on the market;
- By the Certificate of Recognition received, AzerCredit was Ranked 66th on the Portfolio Quality List by the Microfinance Information Exchange;
- Certificate of Recognition, VFI Green "Good Performance" Rating for the year 2008.
In 2009:
- VF AzerCredit went through Financial and Social Rating conducted by Microfinanza Rating. Thus, AzerCredit became the first institution in Azerbaijan to go through the social rating;
- We were audited by a big four audit company and received an unqualified opinion, which is indeed a success for an MFI;
- Our performance was highly recognized by the microfinance industry by receiving Silver award from CGAP, Ford Foundation and Michael & Susan Dell Foundation for reporting on Social Indicators to MIX;
- MFC awarded acknowledgement for pioneering participation in the project Advancing Social Performance Management in Azerbaijan using MFC Quality Audit Tool;
- MF Transparency recognized VF AzerCredit as a leader in transparent pricing in Azerbaijani microfinance industry.
In 2010:
- CGAP, Susan and Michel Dell Foundation together with MIX awarded a Gold Award for Social Performance Reporting to MIX at the MFC conference in Astana, Kazakhstan in May 26, 2010;
- Award "Member of the year 2010" given by AMFA in October on the 5th Azerbaijan Microfinance Conference "Responsible Micro-Finance in Azerbaijan".
VF AzerCredit’s leadership on Azerbaijan microfinance market and active improvement of internal systems creates a perfect environment for future development of the organization and expansion into many more rural and remote areas, which will be the focus of the MFI for the coming years.
Chairman of Board of Directors of VF AzerCredit is Ljiljana Spasojevic
Deputy Chairman of Board of Directors is Samir Jafarli
Head office: 13, Kaverochkin str. / Azadliq avenue 64, Baku, Azerbaijan AZ1022;
Tel.: (+99412) 418 9417; Fax: (+99412) 440 1471
E-mail: azercredit@azercredit.az
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