Collection Agency of Azerbaijan starts to service foreign debts

Economy Materials 11 September 2014 15:56 (UTC +04:00)

Baku, Azerbaijan, Sept.11

By Zulfiyya Kurbanova - Trend:

BOA Collection agency has started to service debts of foreign companies in Azerbaijan, director of Azerbaijan's only collection agency Samir Mustafayev told Trend Sept.11.

Three foreign American, Russian and Ukrainian companies first appealed to the agency. They provided us with information about their debtors in Azerbaijan, and we, in our turn, provided a full repay of their debts," he said.

Mustafayev said that the agency's future plans include expanding of the list of its clients.

"We are ready to provide our services to all legal entities and natural persons of the country. Currently we are working with four major banks, two leasing companies and negotiate with another bank and a leasing company," the director of the agency said.

He said that in summer the collection agency's debt portfolio increased slightly, due to individuals.

"There is always certain stagnation during the summer. Activation of the process of debt repayment and negotiations with new customers is expected in the fall," Mustafayev said.

In January-July the agency portfolio was about 20-25 million AZN.

BOA Collection agency LLC was registered in the Ministry of Taxes December 19, 2011 and began to work in late 2012.

The official exchange rate on September 11 is 0, 7843 AZN / USD.