Azerbaijan: Banking Crisis Gives Rise to Loan Sharks

The decline in Azerbaijan’s legitimate lending sector and new rules introduced by the Central Bank resulted in the rise of loan sharks and pawn shops, analysts contend. (Photo: Central Bank of Azerbaijan)

Namig Ibrahimov is a young entrepreneur, building an online shopping platform that offers imported clothing to Azerbaijani customers. To invest in his business, though, he is getting loans not from a bank, but from a loan shark.
 

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Durna Safarova is a freelance journalist who covers Azerbaijan.

Azerbaijan: Banking Crisis Gives Rise to Loan Sharks

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