CBA: Requirements for State Register of Encumbrances on Movable Property met

The Central Bank of Azerbaijan (CBA) has fulfilled the World Bank’s requirements for the State Register of Encumbrances on Movable Property regarding the assessment of the business environment in the country, representative of the CBA Information Technology Department Vugar Mammadzade told Report.

He noted that the registry is of particular importance in World Bank assessments.

“Previously, one of the most important documents for investors when making decisions on investing financial resources was the annual Doing Business report. This year the World Bank will conduct an assessment called “Accessible Business Environment.” The criteria in this area have already been practically defined. All requirements for the register have been met. We hope for good results this year, as we did in previous years,” Mammadzade noted.

In 2023, the number of agreements on the encumbrance of movable property in Azerbaijan increased by 2 times and exceeded 200,000.