Azerbaijan, Baku / Trend corr I. Khalilova / The new administration of the Azerbaijan Leasing Companies Association (ALCA) was elected at the portback election meeting of the Association, the new President of the ALCA, Azer Mammadov, reported on 21 June.
According to Mammadov, Jeyhun Nagiyev, who presides over AzeriLeasing, was discharged from the position of the President by his own will. The head of AGLeasing, Azer Mammadov, was appointed to the position.
Two Deputy Presidents were also elected to the Administration, Yusif Muslimov, (head of AtaLeasing) and Khalid Askarov (head of UniLeasing). Prior to the elections the positions were occupied by the former head of UniLeasing, Hikmat Garibov, and the head of AGLeasing, Azer Mammadov.
Mammadov said that the Administration was usually elected for an indefinite period and the matter was considered as far as the proposals were made.
The Association was established in 2005 within the framework of the project on technical assistance to development of leasing in Azerbaijan of the International Finance Corporation (IFC).