IFC opposes appraisal activity licensing in Azerbaijan

Baku, Azerbaijan, May 2

By Emin Aliyev - Trend:

International Finance Corporation (İFC) opposes appraisal activity licensing in Azerbaijan, IFC project coordinator for strengthening the financial infrastructure in Central Asia and Azerbaijan Teymur Heybatov told Trend on May 2.

"We are not in favor of licensing, because it will lead to bureaucracy and the licensing process will be very difficult," he said. "We stand for appraisal activity self-evaluation. It envisages the establishment of an appraisers association, which will certify the specialists. The association itself will guarantee the quality."

"This practice has already been implemented in the country, but covers only property," he said.

"The Society of Appraisers trains the real estate appraisers and rarely - cars acting as collateral for loans," he said. "In the wide sense, training and certification processes of movable property appraisers in Azerbaijan are not held now."

Translated by NH
Edited by CN