Baku. 27 December. REPORT.AZ/ Preparation of new legislative frame for leasing sector will be mulled. New law will enable leasing companies to provide operative leasing services.
Report informs referring to Strategic Road Map of the Azerbaijan Republic on production of consumer goods by small and medium sized enterprises (SME): “New regulations will be formed on the basis of new law and better circumstances for leasing companies will be created”.
Concessions will be applied and new regulatory guidelines will be introduced to facilitate development of leasing market.
“Alternative funding options through advantageous leasing services will be created for SMEs engaged in high priority sectors of the economy. Moreover, use of alternative low cost financial tools like ‘forwards’, ‘futures’, ‘option’, ‘swap’, ‘factoring’ will be stimulated”, the document says.
It is noted that shortage of financial resources in leasing companies is a main problem of the market: “Initiatives aimed at development of leasing market will enable the leasing market to grow up to 2% of total GDP by year 2020 and 4% by year 2025”.