Azerbaijan, Baku, Dec. 27 / Trend U.Ismayilova /
The Largest leasing company in Azerbaijan - Joint Leasing does not exclude the possibility of reduction of interest rates on leasing operations in 2011, Director General Elchin Ahmedov said.
"The company's interest rates companies is on average of 19-20 percent depending on the advance payment, risks and a cost-effectiveness of the project. Changes in the direction of decreasing in 2011 may be occurred in case of cheaper resources at the local financial market. It is well known that the Central Bank of Azerbaijan works in this regard," Ahmedov said.
At the whole world crisis period, Joint Leasing continued to provide services, and there was not a respite in the process of financing leasing projects, he said.
Many leasing companies faced this problem due to the lack of resources, Ahmedov said.
Tariff policy of the leasing company, he said, primarily depends on the cost of funds. For example, in 2010 the company managed to attract cheap funds to buy Japanese equipment and, accordingly, provide the equipment for lease at very attractive conditions.
"Joint Leasing will continue its work in this direction and we are ready to undertake similar projects with suppliers, as well as equipment leasing for specific projects," he said.
Joint Leasing Company operates in the country since June 14, 2007 as the legal successor of the company Azerilizing. The founders of the company's are the British company Dolphin Leasing (52.3 percent) and the International Bank of Azerbaijan. Authorized capital currently stands at 700,000 manat. The first Azerbaijani leasing company Azerilizing joint venture was established in 1999.