Azerbaijan, Baku, April 18 / Trend A.Akhundov /
A state supervision body should be created on the Azerbaijani leasing market, Ansar Leasing CEO Jeyhun Nagiyev told Trend on Monday.
Ansar Leasing was established by the Islamic Corporation for Development of Private Sector.
"The supervisory body will stimulate market development. It is difficult to promote leasing companies' proposals through state structures without such an organization," Nagiyev said.
Nagiyev estimated today's market volume at about $ 200 million, whereas the market potential is $800 million. He said the potential can be realized through the tax system's simplification.
"However, in general, the country's leasing market is developing and the number of customers is increasing," Nagiyev said.
Today, Azerbaijan has 21 leasing companies, but only half operate. The Azerbaijani Leasing Companies Association brings together nine companies as members and two companies have an observer status. The association was established on Oct. 27, 2004 by Ataleasing, Unileasing, and Muganleasing under the IFC's technical assistance for leasing development in Azerbaijan.
