Transparent Pricing Initiative in Azerbaijan
Thank you for your participation in this global movement to practice transparent pricing in microfinance.
MicroFinance Transparency works with MFIs, Central Banks, and investors to bring about pricing transparency in the microfinance industry. MicroFinance Transparency will enable transparent communication between suppliers and consumers of microcredit products. We are the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation. Our vision is a microfinance industry operating with healthy free market conditions where consumers and other stakeholders can make informed decisions.
Azerbaijan is the first country of the South Caucasus to be selected for MicroFinance Transparency’s Transparent Pricing Initiative. Larry Reed and Alexandra Fiorillo conducted a workshop in Baku on October 8th, 2009 where we shared the new industry standard for calculating interest rates for microcredit products with the leading microfinance institutions and banks in Azerbaijan.
Now is your opportunity to actively participate in the Transparent Pricing Initiative in Azerbaijan. During the Azerbaijan project, MFTransparency will be collecting information on all micro loan products offered by NBFIs and banks as well as some information on savings products offered by banks. If your financial institution offers micro loan or savings products, you can participate by submitting specific information on those products. Please follow the instructions below to complete the process.
To submit your loan product data to MicroFinance Transparency, please download and complete the following excel workbook:
When you have completed the Data Collection Tool, please email it to: data@mftransparency.org
If your bank offers savings products, please note that a representative from AMFA will be contacting you shortly to ask you a few simple questions about these products. If you have questions about this process, please contact alex@mftransparency.org or data@mftransparency.org
Should you have any questions about MFTransparency, the data submission process, or anything else, please email data@mftransparency.org and our team will get back to you within 48 hours to answer your inquiries.
Materials to Download
- Why We Need Transparent Pricing in Microfinance (Session 1 Presentation)
- Why We Need Transparent Pricing in Microfinance (Session 2 Presentation)
- Article: The Need for Transparent Pricing
- Article: The Need for Transparent Pricing – AZERI
- Two-Page Overview of MFTransparency – English
- Two-Page Overview of MFTransparency – AZERI
To submit your loan product data to MicroFinance Transparency, please download and complete the following excel workbook:
When you have completed the Data Collection Tool, please email it to: data@mftransparency.org
If your bank offers savings products, please note that a representative from AMFA will be contacting you shortly to ask you a few simple questions about these products. If you have questions about this process, please contactalex@mftransparency.org or data@mftransparency.org
Should you have any questions about MFTransparency, the data submission process, or anything else, please email data@mftransparency.org and our team will get back to you within 48 hours to answer your inquiries.
News & Updates
May 27, 2010
Microfinance Insights: MFTransparancy announced the disclosure of the pricing data from Azerbaijan
May 26, 2010
Microfinance Focus: MFTransparency to host Webinar on ‘New Microfinance Transparent Pricing Data from Azerbaijan’
February 16, 2010
MicroCapital Brief: Azerbaijani President Signs Decree Increasing Support for Microfinance Sector Including Non-Bank Credit Organizations (NBCOs)
February 4, 2010
Microfinance Focus: AccessBank of Azerbaijan Joins MicroFinance Transparency’s Transparent Pricing Initiative
February 2, 2010
ABC.AZ: AccessBank Participates in Transparent Pricing Initiative
November 13, 2009
MFTransparency would like to recognize AzerCredit as the first institution in Azerbaijan to submit data. Congratulations to AzerCredit for establishing themselves as a leader in transparent pricing in the Azerbaijani microfinance industry.
November 9, 2009
MFTransparency would like to congratulate the members of AMFA for reaching a microloan portfolio of USD 393 million. More information is available in the following article:
- MICROCAPITAL.ORG STORY: Members of Azerbaijan Microfinance Association (AMFA) Reach Microloan Portfolio of USD 393 million
Instructions for Data Collection Process
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Instructions
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Notes
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Step 1
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Fill out the basic information on the “MFI INFO” sheet
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Please note the “Number of Incomplete Data Points” counter as you fill in information. |
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Step 2
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Fill out a “LOAN PRODUCT” worksheet for every loan product you have, following instructions on the sheet carefully. | If you have questions after reading the instructions, feel free to e-mail us for clarification. The data tool has capacity for up to 10 loan products. If you have more, simply use multiple copies of the data collection tool. |
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Step 3
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Collect sample repayment schedules for EACH product using the guidance contained in the tool. | Please note: The data tool indicates how many samples are needed, and what loan amounts they should be for. They should be loans that were disbursed within the past two months. |
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Step 4
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Double check your work, perhaps with a colleague, to ensure accuracy of the data. | Verify that there are no incomplete cell errors or the data approval process will fail. You will be able to save the incomplete file, however. |
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Step 5
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Email data@mftransparency.org to request a confidential authorization code. This code is needed to insure that the data is being submitted by an authorized representative of the organization. Please include the name and email address of your Executive Director (or equivalent) in this request. | The confidential code will only be sent via email to the Executive Director / General Manager (or equivalent) of your institution.
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Step 6
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MFTransparency will email the Executive Director (or equivalent) the confidential authorization code. |
We strive to return this code within 24 hours.
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Step 7
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Have the Executive Director (or equivalent) of your institution do a final review of the data and APPROVE its submission on the “Approval Sheet”, with the confidential authorization code. | Once approved, all data in the tool will be LOCKED and nobody can make any changes. If you notice changes that need to be made after you lock the worksheet, please contact us. |
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Step 8
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Email this workbook and the repayment schedules to data@mftransparency.org. If you cannot email the repayment schedules, please contact data@mftransparency.org to obtain a fax number you can use. | |
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Step 9
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MFTransparency will contact you and your Executive Director (or equivalent) if we have any questions regarding the data. Please contact data@mftransparency.org with any questions or concerns you may have throughout the process. |
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