Enhancing Financial Capability and Inclusion in Azerbaijan : A Demand-Side Assessment
Consumer protection is an important element of financial sector stabilization and development agenda in Azerbaijan. The falling oil prices and weaker macroeconomic fundamentals on top of the negative external shocks have led to devaluation of the n...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/08/26681091/enhancing-financial-capability-inclusion-azerbaijan-demand-side-assessment http://hdl.handle.net/10986/24955 |
| Summary: | Consumer protection is an important
element of financial sector stabilization and development
agenda in Azerbaijan. The falling oil prices and weaker
macroeconomic fundamentals on top of the negative external
shocks have led to devaluation of the national currency and
erosion of public trust in financial sector. Restoring
financial stability, renewing public and investor confidence
and mobilizing higher savings to finance growth are the top
priorities of Azerbaijan policy makers. The authorities
increasingly discuss the issues of consumer and depositor
protection, responsible lending and finance access. To
support Azerbaijan in its efforts to advance financial
capability, the WBG has implemented a nationally
representative financial capability survey of the adult
population in Azerbaijan. This survey will inform the
development of a detailed implementation action plan for the
national financial literacy strategy. Moreover, it will help
the authorities to set quantifiable and concrete targets,
and assess the effectiveness of future financial capability
enhancing programs. Chapter 1 explores the financial
inclusion landscape in Azerbaijan. Chapter 2 gives an
overview of levels of financial capability in Azerbaijan, in
particular about their financial knowledge, attitudes and
behaviors. The last chapter investigates if the products are
effectively meeting their needs of financially included individuals. |
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