On 28 February, KPMG in Azerbaijan jointly with Azerbaijan Mortgage and Credit Guarantee Fund hosted an event “Credit Scoring Models for Banks in Azerbaijan” at the Four Seasons Hotel.
Rahman Hummatov, Deputy Chairman of the Management Board at MCGF, and Murat Karakas, Managing Partner of KPMG in Azerbaijan, delivered the opening speech and welcomed the participants.
Michael Kunisch, Head of Financial Risk Management at KPMG in Russia and the CIS, delivered the presentation “Credit Rating Model built for MCGF”. This model developed by KPMG is a major breakthrough in financial risk management practices in Azerbaijan. Such a model enables the fund to properly quantify, segregate and manage the risk profile of their portfolio. Michael highlighted that this model is a step in the right direction, expressed hopes that such models will be adopted in numbers by commercial banks of Azerbaijan, and concluded by reminding that KPMG in Azerbaijan is ready to offer global risk management practices for the banking sector of Azerbaijan.
Rahman Hummatov presented “Credit guarantee products of MCGF” and also talked about credit guarantee system in general. He summarised the long and short-term goals of the fund in housing within the context of economic development of Azerbaijan, and described in detail the mechanism and covenants of credit guarantee products offered by the organisation.
Over 60 representatives of financial sector in Azerbaijan attended in the event, and MCGF expressed gratitude to KPMG for support in developing and implementing of credit scoring models.