New non-banking credit organization registered in Azerbaijan
Azerbaijan, Baku, Baku 6 / Trend , N.Ismaylova /
A new non-bank credit organization Planeta Invest was registered in Azerbaijan in May, the official website of the Ministry of Taxes said.
Its founder was the Najafov Eldeniz. The credit organization will operate in Baku.
To regulate the activities of these organizations, the Parliament of Azerbaijan considers a bill on non-bank credit organizations. Up to now, the activities of non-banking institutions have been regulated by a separate section of the Law on Banks. Improving the legal framework is expected to decide the question of access to financial resources.
Today in Azerbaijan there are 92 non-banking credit organizations, including 73 credit unions, 18 credit organizations, funded by international humanitarian organizations.
Official rate on May 6 is 0.8036 AZN/USD.
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