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Azerbaijan forms two non-bank credit organizations

Business Materials 3 July 2012 16:51 (UTC +04:00)

Azerbaijan, Baku, July 3 / Trend, A.Akhundov /

Another non-bank credit organization under the name EMBAFİNANS has been registered in Azerbaijan.

Its founders are Elshad Abbasov and Mashhur Mammadov, while its official representative Malik Mikayilov.

The enterprise has passed the state registration in tax authorities on June 25.

The authorized capital of the company is 500,000 manat.

According to the Central Bank of Azerbaijan, as of April 1 127 non-bank credit institutions, including 99 credit unions operated in the country.

The official exchange rate is 0.7856 manat to $1 on July 3.

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