Azerbaijan, Baku, July 13 / Trend I. Khalilova /
The leasing company MCB Lizinq plans to bring its portfolio up to 21 million manat before the end of 2012 within the strategic development plan, the company chairman Ramal Jafarov said.
"The leasing portfolio is forecasted at about two million manat, which will be formed through rendering leasing services, primarily in non-oil sector of the country by late 2010" Jafarov.
Preference will be given to the production sector, acquisition of equipment for medical, financial sector and IT-sector, he said.
MCB Lizinq has no plans to provide services on "Sharia" principles shortly. The company is not interested in providing leasing services in the consumer sector.
According to preliminary conditions, the maximal amount of the primary contribution will not exceed 30 percent, the maximal term - up to seven years at an interest rate of 18-19 percent.
MCB Lizinq's partners today are chosen for rendering banking services Access Bank and the Baku branch of the National Bank of Pakistan, but insurance services - Pasha Sigorta.
MCB Lizinq Leasing Company was registered in the tax authorities of the country Oct. 15, 2009. The opening ceremony of the company was held July 13, 2010. Authorized capital is 1.5 million manat. The founders are Pakistan's MCB Bank LTD, which owns 70 percent, while 30 percent fall to the Azerbaijani capital and invested by Namik Safarov.
On July 13, the official exchange rate is 0.8038 manat to $1.