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«Central Asian Microfinance Summit-2024»

From September 19 to 20, 2024, CJSC MCC «Bailyk Finance» took part in the Central Asian Microfinance Summit, which was held in the historical city of Samarkand, Uzbekistan. The summit was organized by the Central Asian Microfinance Alliance to coordinate initiatives for the development of microfinance, exchange of best practices, and the introduction of new products and services to the market.
The key topic of the event was «Support for small businesses». The participants discussed important aspects of the implementation of environmental, social and corporate governance (ESG) standards, as well as the development of Islamic finance, digitalization and the prospects of FinTech technologies. Such discussions highlight the relevance of strategies aimed at sustainable and inclusive development of the regional economy, as well as the need to support small businesses in the face of modern challenges.

On the first day of the summit, General Director of CJSC MCC “Bailyk Finance” Moldazhanova Chinara Darkenbaevna took part in a panel discussion at the plenary session “The Role of Microfinance in Enterprise Development”. During the discussion, the important role of microfinance organizations in the development of small and medium businesses was emphasized. Chinara Darkenbaevna noted that effective cooperation between microfinance institutions and small businesses can become the basis for sustainable economic development, allowing talented entrepreneurs to implement their ideas and enter new markets.
On the second day of the summit, as one of the key speakers, Chinara Darkenbaevna made a presentation on the topic “Implementation of the ESG agenda in the microfinance sector” using ZAO MCC “Bailyk Finance” as an example. In her speech, she shared the experience of social impact in the Company and spoke about the activities implemented within the framework of the ESG strategy, emphasizing the importance of responsible financing and sustainable development to support small businesses in the region.

“The implementation of ESG approaches helps create favorable conditions for entrepreneurs, promoting their growth and development, as well as increasing social responsibility in the field of microfinance,” Chinara Darkenbaevna noted in her speech.

For reference: The Central Asian Microfinance Alliance was founded in 2022 by four Central Asian microfinance associations of Kyrgyzstan, Kazakhstan, Tajikistan and Uzbekistan. The Alliance was created as a regional knowledge center in the field of microfinance. Since 2022, it has been organizing the annual Central Asian Microfinance Summit. The purpose of the summit is to coordinate initiatives to develop microfinance in the region, share best practices, bring new products and services to the market, discuss potential risks, promote digital solutions and reward those who have contributed to the development of the industry.