BOA Collecting Agency to employ members of Bar Association

Baku. 5 January. REPORT.AZ/ Restriction of the representative institution's activity in Azerbaijan did not seriously affect the work of BOA Collecting Agency LLC.

The company director Samir Mustafayev told Report.

Notably, BOA Collecting Agency mainly deals with collection of troubled loans at local banks. At present, 6-7 banks cooperate with the BOA Collecting Agency.

"Innovation regarding the representation institution does not mean that banks will not be able to empower us to collect overdue debts. Again, on the basis of a resolution, we will deal with returning troubled loans together with executive structures", he said.

However, Mustafayev noted that the BOA will try its employees to pass exam and become members of the Bar Association or, if necessary, will employ members of the Association: "So far, along with the banks, various physical and legal persons and foreign companies benefitted from the services provided by the BOA Collecting Agency. That is, in addition to the banks, persons who lend money also appealed to us and our company was entrusted to solve the issue. There is a need for members of the Bar Association to defend those persons in courts within the law. First of all, we will try our employees to become legal lawyers. If this does not take place, we will hire the Bar Association members".