Association of Leasing Companies of Azerbaijan Approves Budget & Action Plan for 2008

Business Materials 14 April 2008 18:17 (UTC +04:00)

Azerbaijan, Baku, 14 April / corr. Trend U. Ismayilova/ The Association of Leasing Companies of Azerbaijan have approved the plan of action and budget for 2008 on 11 April, said Azer Mammadov, the chairman of Board of Directors of Association on 14 April.

According to Mammadov, the budget of Association for 2008 has been determined at AZN12,707. The membership fee is AZN2,200.

The meeting of the Association held on 11 April elected Elchin Ahmadov, the head of Joint Leasing, as the new deputy head of Board of Directors, Anar Kerimov (Joint Leasing) the chairman of commission on juridical issues and Anar Yadigrov (Uni Leasing), the chairman of inspection commission.

The meeting decided to make the Association more active in 2008. The plans for 2008 include holding an international conference as well as joint training and seminars with International Finance Corporation.

The plans to develop the Association for 2008 include rationalization of two Association committees- tax and juridical committees in order to develop legislation acts.

There is no law and regulatory body of the leasing market. The market is regulated by the Civil Code.

The Association of Leasing Companies of Azerbaijan was founded in 2004 by Ataleasing, Unileasing, and Muganleasing.

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