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In English Azərbaycan dilində

About Us


Our History

VF AzerCredit was initially created in 1996 to provide credit to ensure people can take control over their own lives and livelihoods. In 2002 VF AzerCredit was successfully registered as a Limited Liability Company and obtained Central Bank license in 2003.

Although much has changed since then, the vision of VF AzerCredit is still to assist people in developing a positive and self-sustainable lifestyle.

The mission of VF AzerCredit is to provide financial services which have a positive impact on the lives of the poor.

The primary objective of VF AzerCredit has always been to provide loans to those who are not able to access facilities through the conventional banking system. This implies that AzerCredit works both in the urban and rural areas of Azerbaijan but the emphasis is placed on providing loans to micro and small rural entrepreneurs and self-employed poor, covering remote areas which are not bankable. However the sole focus on loan is being replaced by a wider view on microfinance now as VF AzerCredit has developed into a strong financial institution.

Constant product/process refinements and product developments introduced by VF AzerCredit have brought innovations to the microfinance sector of Azerbaijan and more opportunities for customers whose needs are being continuously learned and incorporated into business processes.

AzerCredit provides the following groups of products to target clients:
  • Micro and small business loans, including agriculture loans issued both to individuals and solidarity groups with the intention to directly support clients` businesses: Group Business and Agriculture Loans, Individual Business and Agriculture Micro Loans, Individual Business and Agriculture Small Loans;
  • Household loans issued to finance the purchase of home appliances, furniture and the like;
  • Family loans issued to provide funding for covering tuition fees, building or repairing houses, arranging vacation, receiving medical assistance, organizing wedding or engagement ceremonies, etc.
VF AzerCredit currently operates 19 outlets, 16 of which serve comparatively underserved rural areas.

The total number of active borrowers is about 35,000 and the credit portfolio is 40 million AZN.

The organization is actively investing in developing social performance management system as a part of its strategic plan, as it looks to support the double bottom-line.

Recognizing that its operations have direct and indirect impacts on the environment, VF AzerCredit has recently adopted and is implementing Environmental Policy to ensure the environmental soundness and sustainability of its operations, support the integration of environmental considerations into the decision-making process and promote responsible environmental attitudes both internally and externally.

VF AzerCredit is continuously working on improving customer service. The first step in this direction was creation of a reliable feedback system of customer grievance and suggestions through various ways. The next steps have been the implementation of comprehensive Customer Service Standards, receipt of Client Protection Certification, developing client loyalty appreciation, etc. Client Relationship Management will remain one of the focus areas in the coming years.

In 2008:
  • VF AzerCredit received recognition certificate from Azerbaijan Microfinance Association as acknowledgement for pioneering participation in Advancing Social Performance Management in Azerbaijan, which included undergoing the process of social audit;
  • "The Best Community Impact Provider in Azerbaijan" nomination was awarded by Azerbaijan Microfinance Association, thus the organization was recognized as the MFI with the best community impact on the market;
  • By the Certificate of Recognition received, VF AzerCredit was Ranked 66th on the Portfolio Quality List by the Microfinance Information Exchange;
  • Certificate of Recognition, VFI Green "Good Performance" Rating for the year 2008.
In 2009:
  • VF AzerCredit went through Financial and Social Rating conducted by Microfinanza Rating. Thus, AzerCredit became the first institution in Azerbaijan to go through social rating;
  • VF AzerCredit was audited by a big four audit company and received an unqualified opinion, which is indeed a success for an MFI;
  • Our performance was highly recognized by the microfinance industry by receiving Silver Award from CGAP, Ford Foundation and Michael & Susan Dell Foundation for reporting on Social Indicators to MIX;
  • MFC awarded acknowledgement for pioneering participation in the project Advancing Social Performance Management in Azerbaijan using MFC Quality Audit Tool;
  • MF Transparency recognized VF AzerCredit as a leader in transparent pricing in Azerbaijani microfinance industry.
In 2010:
  • CGAP, Susan and Michel Dell Foundation together with MIX awarded a Gold Award for Social Performance Reporting to MIX at the MFC conference in Astana, Kazakhstan in May 26, 2010;
  • Award "Member of the year 2010" given by AMFA in October on the 5th Azerbaijan Microfinance Conference "Responsible Micro-Finance in Azerbaijan".
In 2011:
  • VF AzerCredit was awarded as the "Best Member Succeeding in SMART Campaign Client Protection Principle 4: Ethical Staff Behavior" by Azerbaijan Microfinance Association.
  • CGAP, Michael and Susan Dell Foundation, Ford Foundation together with MIX awarded a Platinum Award for social performance reporting in 2011. The Platinum Award was introduced in 2011 as the highest level of the award from MIX.
In 2012:
  • VF AzerCredit received an award for Promoting Transparent Pricing/Services in Azerbaijan Microfinance Industry at the fifth Annual Award Dinner hosted by AMFA in Baku on 27 January 2012.
  • MF Transparency renewed the official Seal of Transparency awarded to VF AzerCredit for the period of April 2012 - April 2013.
  • VF AzerCredit received the MFC and Smart Campaign Good Practice Award in Mechanisms for Complaint Resolution at the MFC Conference held in Tbilisi from 28 to 30 May.
In 2013:
  • London-based International Finance Magazine conferred Best Microfinance Company Award on VF AzerCredit under the Financial Awards – Azerbaijan 2013 nomination.
  • VF AzerCredit won Hear My Voice Heat 2 Award from VF International for the exemplary communication of the impact of microfinance.
  • VF AzerCredit Received Certificate of Appreciation from Microcredit Summit Campaign for being an active member of the Campaign.
In 2014:
  • The year started with the Award for Effective Use of Innovative Technologies by AMFA, which was received at the Annual Award Dinner 2014 and was the result of the recent endeavors of VF AzerCredit to employ innovative technologies in its products and services;
  • The second award presented again at the Award Dinner 2014 was the Gender Equality Award by EBRD, AMFA and Frankfurt School of Finance & Management;
  • Transparency and responsible financing continuously come first in performance and strategies of VisionFund AzerCredit – both from customer and employee perspectives, which has contributed to S.T.A.R. certificate by MIX organization first time in Azerbaijan;
  • VF AzerCredit has been conferred with Client Protection Certification first time in the Caucasus by the Smart Campaign, a global initiative to incorporate strong client-protection practices into the microfinance industry.
In 2015:
  • VF AzerCredit was awarded as “Advanced MFI in HR Management” recognition at AMFA Annual Award Dinner 2015.
  • Received a certificate of appreciation at the 18th Annual Conference of Microfinance Center (MFC) for its outstanding efforts in the organization and conduction of the international “Borrow Wisely!” Campaign initiated to promote the application of customer protection standards and raise financial literacy.
In 2016:
  • Received a certificate of appreciation at the 19th Annual Conference of Microfinance Center (MFC) for its valued participation at the international “Borrow Wisely!” Campaign.
In 2017:
  • Received a certificate of appreciation at the 20th Annual Conference of Microfinance Center (MFC) for its continuous contribution to the organization and conduction of the international “Borrow Wisely!” Campaign.
VF AzerCredit's leadership on Azerbaijan microfinance market and active improvement of internal systems creates a perfect environment for future development of the organization and expansion into many more rural and remote areas, which will be the focus of the organization for the coming years.

Acting Chair and Deputy Chair of the Management Board of
VF AzerCredit is Anar Shahbazov

Our Latest News

October 2017

| International BORROW WISELY! Campaign in Azerbaijan supported by AMFA and VF AzerCredit
The third annual BORROW WISELY! Campaign – a one month educational campaign aimed mainly at current and potential clients –…

May 2017

| 20th Anniversary MFC Annual Conference: VF AzerCredit Awarded as Well
20th anniversary of MFC Annual Conference titled “Horizon 2037: Fair Finance for All” was held in Sarajevo, Bosnia and Her…

February 2017

| Customer Service Unit Turns Three
In order all consumers could freely exercise their rights, as well as easily submit their appeals – inquiries, c…

December 2016

| VF AzerCredit Customers at Financial Literacy Training Organized by SBFIC-AMFA
The microfinance sector in Azerbaijan, after long-time rapid growth, has faced various challenges since the year 2015.…

December 2016

| 20th Anniversary of VF AzerCredit: Veteran Staff Share their Experience
The first offices of VF AzerCredit, aiming at providing financial services to  have a positive impact on the lives of the …

October 2016

We’re kicking off our third annual Borrow Wisely Campaign to be held during October! This year 20 leading financial i…

July 2016

| Borrow Wisely Campaign Organizers Awarded at MFC 2016 Conference
This year 19th MFC Annual Conference entitled “Microfinance in the Cloud” was held in Tirana on 22-24 June. The Con…

June 2016

| VF AzerCredit Continue Issuing Business Loans in National Currency
Our loyal customers can again receive business loans in Manat by applying to VF AzerCredit`s branches.Only customers with…

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SDN Business Center, 3rd floor,
10Q Alasgar Gayibov Street,
Baku AZ1029

Phone: (+994 12) 447 38 17
(+994 12) 448 38 17