Azerbaijan, Baku, Nov. 19 / Trend A. Akhundov /
The demand for leasing services in Azerbaijan exceeds supply by twice, chairman of the Azerbaijani Association of Leasing Companies (ALCA) Elchin Ahmadov said today.
"This year was the same for the leasing market as the previous one," he told Trend today.
"There was no special portfolio increase, as well as reduction. We are almost at the same level - about 200 million manat. This is a good factor. However, we would like for the portfolio to increase. This is quite a promising sector. This also includes the services. The entrepreneurs show interest to them. The demand is much more than that the companies can offer. Some companies have limited financial resources. It is sometimes difficult for the leasing companies to raise the funds."
He said that some gaps in the legislation hamper the development of the leasing companies.
"I think, first of all, one must try to solve these problems, which will increase the portfolio and the number of players," he said. "Today, leasing companies are being created, but these companies are small. They have no special role on the market. We have also expanded the ranks of the association and look to the future with optimism. Nevertheless, I would like for the leasing sector to be supported more actively."
Ansar Lizinq and Turan Lizinq companies joined the Association as full members, Nikoyl Lizinq - as an observer in autumn.
Today the number of the association members reached 11. The association includes AG Lizinq, Ansar Lizinq, AtaLizinq, Demir Bank, Joint Lizinq, UniLizinq, Turan Lizinq, Standard Lizinq, Qafqaz Lizinq, and ASB Bank and NİKOİL Leasing as observers.
ALCA was established in 2005 as part of the International Finance Corporation (IFS) for the development of leasing in Azerbaijan.