73% loan collateral in Azerbaijan is real property

Baku. 5 April. REPORT.AZ/ 73% of loan collateral in Azerbaijan is real property, 27% - movable property.

Report informs, Deputy Head of the Department of entrepreneurship development policy at Ministry of Economy Jeyhun Isayev has said at “Encumbrance of movable property reform: survey results and next steps " conference organized by Azerbaijan Banks Association (ABA) and the International Finance Corporation (IFC).

According to him, the adoption of the law "On movable property encumbrance" is crucial in order to change this ratio: “After adoption of the law loan collateral by banks will increase 2-fold. It also means the improvement of the position of Azerbaijan in the international arena."