Financial Inclusion, Financial Literacy, and Financial Education in Azerbaijan
Double-digit inflation and declining oil revenue and industrial output have had a profoundly adverse effect on Azerbaijan’s finance sector.
We discuss the status of financial inclusion, education, and literacy in Azerbaijan as well as measures to foster the development of small and medium-sized enterprises, which currently have inadequate access to financial resources. The Government of Azerbaijan is facing the primary challenge of defining its role in creating broader access to financial products and services. We highlight the barriers to financial inclusion, recommend solutions to overcoming the challenges, and discuss lessons learned and a potential way forward.