On March 2nd, 2023, with the organizational support of Small and Medium Business Development Agency (SMBDA) and the USAID, an international conference on the topic of Development Perspectives of Alternative Financial Markets in Azerbaijan took place. The event discussed the financing of small and medium businesses, alternative financial instruments and international experience in this area, opportunities for application of alternative financing mechanisms in Azerbaijan.
As part of the conference panel discussions on the topics “Islamic banking and micro Finance: development perspectives in Azerbaijan”, “Support tools for SMB: financing and leasing based on guarantee and assets” and “The importance of the development of start-up ecosystem” took place. The panel session on the topic “Support tools for SMB: financing and Leasing based on guarantee and assets” was moderated by Chair of the Board of Directors of the Economic Scientific Research Institute, Mahir Humbatov. The panel session dealt with the application of financial tools in the banking and non-banking sectors, touched on some of institutional approaches of the International Finance Corporation, reviewed negotiations with the government, discussion with investors and entrepreneurs, the current status of the financial sector on banking and non-banking sectors and scrutinized local and international practices.