International meeting at FIMSA discusses future cooperation


November 15, Fineko/abc.az. The Financial Market Supervision Authority (FIMSA) received Ambassador Extraordinary & Plenipotentiary of the Swiss Confederation in Azerbaijan Muriel Peneveyre and SECO's newly-appointed Regional Director for the South Caucasus Daniel Myuli.

ABC.AZ reports that at the meeting FIMSA’s acting chairman of board Ibrahim Alyshov told about the reforms carried out in the direction of development of the nonoil sector and diversification of the economy, strategic roadmaps, which contain these goals, about FIMSA-SECO cooperation in implementation of the Strategic Roadmap on the development of the financial sector.

It was also noted that the Mortgage & Credit Guarantee Fund, the Private Credit Bureau and the State Register of Movable Property Encumbrances (SRMPE) , the Agricultural Insurance Fund were established amid the ongoing measures on agriculture lending and promotion to business activity, and domestic legislation was improved.

According to Alyshov, small-size entrepreneurs and farmers, whose main assets consist of movable property, were able to take business loans through SRMPE and expand their farms. Over the past period of creation of the Register the users have carried out more than 60,000 searches. The Register includes over 40,000 notifications with a total amount of liabilities exceeding AZN 6 bn.

Then, Daniel Myuli, SECO's new Regional Director for the South Caucasus, delivered speech. She asked to prepare a 4-year (2021-24) SECO Strategic Plan for the South Caucasus and submit proposals to FIMSA on the spheres that could give support to SECO.