RAO GLOBAL GROUP GMBH founds leasing company in Azerbaijan

Business Materials 3 June 2010 18:45 (UTC +04:00)

Azerbaijan, Baku, June 3 / Trend U. Ismayilova /

Azerbaijan registered a new leasing company "RAO LİZİNG", the section "single window" on the website of the Azerbaijani Ministry of Taxes said.

Authorized capital is 100,000 manat. The leasing company will be located in Baku.

A representative of the company is Mubariz Bagirov, the founder - German company RAO GLOBAL GROUP GMBH. The company has already participated in the establishment of cooperation with the Azerbaijan Investment Company Ltd.

Now, about 20 leasing companies operate in Azerbaijan. There are nine active companies. The total portfolio of actively operating leasing companies, as of January 1, 2010, exceeded 100 million manat.

The official exchange rate is 0.8036 manat to $1.