Azerbaijan, Baku, Feb. 21 / Trend A.Hasanov /
The International Islamic Trade Finance Corporation is ready to increase the credit line for the Azerbaijani leasing company - JSC "Unileasing", the company's marketing specialist Elchin Ibrahimov told Trend on Tuesday.
The funding will be specified after the full mastering of the credit line, public company in late 2011 at $3.5 million.
"Due to the successful mastering of the credit line it is likely to increase it, which is possible as the need arises in the funds," Mr Ibrahimov said.
He noted, to date, the company mastered $2.5 million of these funds, which is more than 71 percent of the credit line.
"These funds are used to finance projects in the field of leasing of cars, construction equipment, industrial equipment, real estate, as well as special projects of regular customers," Mr Ibrahimov said.
He noted Unileasing have sufficient financial resources, which allows the company to fund projects on favorable terms and for a long period of time.
"With the investment of one of the company's founders, a commercial bank" Unibank ", placed bonds, credit lines from EBRD, IFC,"Raiffeisenbank", the Islamic Corporation for Development of the private sector and others, Unileasing was able to provide financial services more profitable than other leasing companies in the country," Mr Ibrahimov said.
The company's leasing portfolio exceeded 35 million manat as of 2011.
The founders of the company "Unileasing" are commercial bank Unibank (66,67 percent) and the European Bank for Reconstruction and Development (33.33 percent).
International Islamic Trade Finance Corporation (ITFC) is a subsidiary of the Islamic Development Bank (IDB). The Unileasing company first among leasing companies applied the system of financing of projects on the principles of Islamic banking.
The official exchange rate is 0.7862 AZN to $1 on Feb. 21.