Azerbaijani NBCO Assets Expand Two- to Threefold as Central Bank Updates Legal Framework

Assets held by non-bank credit organizations (NBCOs) in Azerbaijan expanded two- to threefold throughout the execution of the 2022–2026 financial sector development strategy, according to Central Bank Deputy Governor Toghrul Aliyev.

Aliyev noted that institutional enhancements are underway, with the regulator finalizing legislative amendments to the NBCO legal framework and designing new corporate governance standards tailored to the sector. He emphasized that the fundamental impact of microfinance lies in creating viable, enduring economic prospects rather than sheer lending volumes.

Looking ahead to the upcoming 2027–2032 State Program on Financial Inclusion, Aliyev stressed the importance of balancing fintech adoption with physical branch accessibility across rural regions, alongside critical investments in cyber resilience and risk governance.