Azerbaijan, Baku, October 15 / Trend I. Khalilova /
The Azerbaijani Association of Leasing Companies considers expansion of the number of participants of the leasing market and joining such companies as Ansar Leasing and Standard Leasing as positive factor, head of the association, Elchin Akhmadov, said. Ansar Leasing was founded by the Islamic Corporation for the Development of the Private Sector (ICD joins the Islamic Development Bank), and Standard Leasing (joins AB Standard)
"It is a good factor that the market develops even in terms of crisis. I think that this tendency will be continued," Akhmadov said.
He said that presently, Ansar Leasing considers proposal to join the association. It is planned to implement it as soon as the company accelerates its portfolio. The company financed the first two projects worth $0.2 million in October. It plans to reach up to $5 million by late 2009.
"We intend to negotiate with Standard Leasing. We want active players of the leasing market to be represented in the association," Akhmadov said.
He said that this company launches its activity. He expressed confidence that it will be active players of the market as it is formed by such powerful organization as AB Standard. One of Azerbaijani largest private banks, Standard Bank, joins this organization.
At present, there are 10 members in the association, two are observers (Nikoil Bank and ASB Leasing).
The association was founded within the project of the International Finance Corporation of Technical Aid to Leasing Development in Azerbaijan in 2005.
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