The Association of Leasing Companies of Azerbaijan publicized estimations of the leasing operations in the country. The potential of local leasing services market is estimated from $220 to 240 million on base of international standards, Jeyhun Mammadbayli, the head of the association, told Trend.
“In the world practice 20% is accepted as satisfactory indicator. It allowed us to estimate the possible leasing turnover in the country from $40 to 48 million. Unfortunately, the leasing turnover in 2004 comprised only $10.5 million or no more than one fourth of potential,” he added.
The Azerbaijani Leasing development Project (ALDP), supported by the International Finance Corporation, estimates the potential turnover in the country for $400 million.
“There is no contradicts between estimations of the ALCA and ALDP, but they have different estimation methods,” Mammadbayli said.