Bank Eskhata featured as co-organizer of the VIII National Conference on Microfinance

Bank Eskhata featured as co-organizer of the VIII National Conference on Microfinance

On September 26 the VIII National Microfinance Conference was held in Hyatt Regency, Dushanbe, on the subject "Microfinance in Tajikistan: finance availability in balance with the consumer rights protection".  The conference was supported by the National Bank of Tajikistan, organized by the Association of Microfinance Organizations of Tajikistan, the German Society for International Cooperation and OJSC "Bank Eskhata". The conference was attended by participants of the financial sector, government structures representatives and international organizations.
The subject of the conference was chosen with the view of raising difficult cases fr om consumers of financial services, the reason of which is the dynamic development of the financial services market, diversification of financial instruments and the emergence of complex financial products. In this context, the main aim of the conference was to identify the relationship and to determine the relationship between the professional standards of business ethics of financial institutions, the competitive environment and the availability of financial services, as well as the controls and supervision of financial market by the regulatory authorities and consumer rights protection. Since financial education and effective consumer protection in the financial sector are crucial for improving the financial security of citizens, ensuring financial stability and the formation of transparent and fair competitive market for financial services.
At the opening ceremony of the Conference the speech was given to Chairman of the Management Board OJSC "Bank Eskhata" Mr Khurshed Nosirov, who said that such an important event is being held close to the anniversary of the Bank Eskhata. In his speech, he emphasized the importance of cooperation between bank and local and international partners, whereby Bank Eskhata presently is developing dynamically and it is positioned in the top five leaders of the regional financial market.
In process of this conference there was held the ceremony of signing the loan agreement between Bank Eskhata and the International Finance Corporation (IFC) for a subordinated loan in the amount of 10 million USD and 5 million USD of senior loan denominated in TJS.
The funds raised will be used for the development of micro and small businesses. Some part of that will be issued for the development of products on energy efficiency and energy conservation, as well as gender equality.
The head of International Relations Department of Bank Eskhata Mr Daler Sadykov in the interview pointed out: "In August 2014 Bank Eskhata become a member of the Association of Microfinance Organizations of Tajikistan, which will enable to participate in the main events of the microfinance industry thus lobbying and promoting the principles of micro-crediting and further develop common approaches in the development of the microfinance sector, together with other members of AMFOT."
Also, on the occasion of its 20th anniversary Bank Eskhata was co-organizer of the VIII National Conference on Microfinance, which was a great success with the participation of speakers from our bank, who noted the high quality of preparation and holding of the conference. "

Speakers of the conference from Bank Eshata were Daler Sadykov on "Implementation of the project" The Bank for Banks" in OJSC" Bank Eskhata ", Nosirdjon Oripov "Financing SME, new products of MFIs and banks", Hasanov Furqat "Implementation of Compliance, experience of "Bank Eskhata", Ibragimov Mirzoibragim "Transformation of remittances to savings as a source of domestic investment", Usmanov Shuhrat "Energy efficient financial instruments".
Also at the conference the Fair of MFI and the banks clients products were held wh ere products of folk art and other crafts were demonstrated.
Gathering together the participants of the financial sector, international donors and investors, as well as representatives of governmental bodies the Conference, has once again become a rallying point for the exchange of information, experiences and the beginning of deep cooperation.

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