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Leasing companies in Azerbaijan may get benefits

Finance Materials 22 November 2018 20:02

Baku, Azerbaijan, Nov. 22

By Taleh Mursagulov - Trend:

The Association of Leasing Companies of Azerbaijan is negotiating with the Financial Market Supervisory Authority (FIMSA) to provide benefits for development of leasing companies, the head of the association, Elchin Ahmadov told Trend.

Ahmadov noted that the association is working to make 2019 more promising for the leasing market, and also participates in the formation of a legislative framework.

He also noted that presently, other countries' experience in promoting and stimulating the leasing market is being analyzed.

Speaking about the situation in Azerbaijan's leasing market, Ahmadov said that so far there is no strong activity in the leasing market.

"Presently, leasing companies are mainly engaged in collecting the issued funds and carry out financing in small amounts," Ahmadov said.

There are 10-12 active companies in the leasing market, he added.

He also expressed confidence that the further development of Azerbaijan's economy will contribute to the growth of demand for leasing in the country.

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Follow the author on Twitter: @TalehMursagulov

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