ICD takes the next step in development of Azerbaijan Islamic finance
The Islamic Corporation for the Development of the Private Sector (ICD) has signed a new agreement with Azerbaijani microfinance institution Vision Fund AzerCredit. The objective is to provide advisory services with the aim of developing a comprehensive Shari’ah-compliant microfinance solution for the country. VF AzerCredit's work emphasizes the provision of loans to small and micro entrepreneurs in rural areas, especially those remote regions which remain largely unbanked, through 45 outlets in 38 districts. With more than 80,000 borrowers and a portfolio of over $83 million, the group is a leader in the Azerbaijani microfinance field.
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