Short history

12.06.2002: NBCO "Caucasus-Credit" LLC was founded by the international humanitarian organization Danish Refugee Council.
16.09.2002: It was registered by the State Registration Department of Legal Entities of the Ministry of Justice of the Republic of Azerbaijan with State Registration No. 1066.
10.10.2003: An indefinite license was issued by the Central Bank of the Republic of Azerbaijan allowing limited banking activities for granting loans in national and foreign currency.
13.12.2003: Providing of financial services was started by giving the first wholesale loan to the micro-finance institution (hereinafter referred to as MFI), which works to improve the general wellfare of low-income communities.
13.02.2004: The provision of microloan services to low-income individuals consisting of internally displaced persons living in Sabirabad district has been started.
20.10.2004: The microloan portfolio on low-income individuals who are internally displaced persons living in the Sabirabad region along with its staff was handed over to the MFI, which works to improve the general well-being of low-income communities.
08.12.2009: The service of providing microloans to individuals, which was implemented in the period of February-October, 2004, has been restored.
11.10.2010: The international humanitarian organization Danish Refugee Council donated a hundred percent its share in the charter capital to the national staff of NBCO "Caucasus-Credit" LLC under the condition of guaranteeing the fulfillment of certain obligations.
27.01.2014: In connection with the change of legal address, the previous license was replaced by the Central Bank of the Republic of Azerbaijan with a new license that gives the right to issue secured and unsecured loans, as well as engage in other types of activities permitted by legislation.