Baku, Azerbaijan, March 6
By Kheyraddin Nasirzade - Trend:
The situation in Azerbaijan’s leasing market has worsened and the main issue is related to problem loans, Hikmat Ibrahimov, general manager of the leasing company Ansar Leasing, told Trend March 6.
He said that many leasing companies have suspended the issuance of loans and are engaged only in fundraising, as lessees don’t fulfill their obligations in terms of payments for the ownership and use of the leased asset.
Ibrahimov believes that it would be possible to improve the situation in the market with state support to leasing companies.
He also links the current state of affairs to the absence of a regulator in the leasing market. “Neither the Central Bank of Azerbaijan nor the Financial Market Supervisory Authority regulates our market,” he said.
Regarding future plans, he added that Ansar Leasing plans to resume the provision of leasing services in early April. Among the main directions from this point of view, he mentioned such areas as production, trade and services.