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Imanzade, Afgan; Zeynalov, Anar; Hasanov, Seymur

Working Paper

FINANCIAL INCLUSION: WHAT AND HOW?

EVIDENCE FROM AZERBAIJANI ECONOMY

Suggested Citation: Imanzade, Afgan; Zeynalov, Anar; Hasanov, Seymur (2017) : FINANCIAL

INCLUSION: WHAT AND HOW? EVIDENCE FROM AZERBAIJANI ECONOMY, Premier

Publishing, Vienna, Austria

This Version is available at:

http://hdl.handle.net/10419/167666

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FINANCIAL INCLUSION: WHAT AND HOW?  

EVIDENCE FROM AZERBAIJANI ECONOMY 

__________________________________________________________________ 

 

Afgan Imanzade 

Ph.D. candidate 

Azerbaijan State University of Economics 

Mob: 

[phone] 

E-mail:

 [e-mail] 

 

 

Anar Zeynalov 

Ph.D. candidate 

Azerbaijan State University of Economics 

Mob: 

[phone] 

E-mail:

 [e-mail]

 

 

 

Seymur Hasanov 

MBA 

Azerbaijan State University of Economics 

Mob: 

[phone] 

E-mail:

 [e-mail]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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[2]

 

 

Table of contents 

About authors .......................................................................................................... 3 

Acronyms ................................................................................................................. 4 

Executive summary ................................................................................................. 5 

Introduction ............................................................................................................. 6 

Financial inclusion: backbone, elements and measuring mechanisms .............. 6 

The secured transactions mechanism ........................................................................ 7 

The credit recording system .................................................................................... 13 

Payment systems ..................................................................................................... 15 

Measuring financial inclusion ................................................................................. 18 

Financial inclusion in Azerbaijan: current situation and assessment ............. 25 

Proposals to strengthen financial inclusion in Azerbaijan ................................ 30 

Evidence from the secured transactions mechanism ............................................... 30 

Evidence from development of the credit recording system .................................. 33 

Evidence from development of payment systems ................................................... 37 

Conclusion .............................................................................................................. 40 

Annexes ................................................................................................................... 42 

Table 1. Global Findex indicators based financial inclusion in Azerbaijan. .......... 42 

Table 2. IMF indicators based financial inclusion in Azerbaijan. .......................... 44 

References .............................................................................................................. 45

 

 

 

 

 

 

 

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