Banks in Azerbaijan to issue loans in non-cash form
Baku, Azerbaijan, Jan. 12
By Anvar Mammadov – Trend:
Banks in Azerbaijan will start this year issuing loans in non-cash form, Director General of the Department of Tax Policy and Strategic Research of Azerbaijan’s Ministry of Taxes Samira Musayeva said.
“At the same time, no limit will be applied when cashing out the loans issued by the banks in Azerbaijan,” she said Jan. 12 in a forum in Baku, dedicated to the amendments to the Tax Code of Azerbaijan.
“Customers of banks in Azerbaijan will be able to cash out absolutely any amount of money,” said Musayeva. “However, if they are entrepreneurs, they will have 1 percent fee deducted when cashing out their funds.”
Individuals (natural persons), who are not taxpayers, will not be charged anything, Musayeva said.
There are 32 banks operating in Azerbaijan.