First in Azerbaijan Islamic leasing company opens financing of projects
Baku, Fineko/abc.az. Leasing company Ansar Leasing, which has announced on start of activity, the founder of which is the Islamic Corporation for the Development of the Private Sector (ICD), completes consideration of primary package of claims on financing.
General Director of the Ansar Leasing Ceyhun Nagiyev said that the company has opened financing of approved projects since October 1.
“Presently, portfolio of the Ansar Leasing already makes up $200,000 and we plan to increase it up to $5 million summarizing the results of 2009,” J. Nagiyev said.
Earlier, the company had up to 5 projects, which were approved previously. Ansar received claims for leasing of industrial and building technique, automobiles. The company strives to occupy leading positions at the leasing market of Azerbaijan. At primary stage its leasing portfolio is planned at the level of $7-8 million already in 2009 with prospective plans of its rise up to $50 million.
Financing of leasing projects will be provided by the Jeddah-based ICD head office.
On December 12, 2008, the company was registered as Azerbaijan Leasing Company. It will operate under trademark as Ansar Leasing.
Its capital is AZN 5 million that makes it the most capitalized company among leasing structures of Azerbaijan.
ICD is its only founder of the company. The Company will operate on shariat principles.
Pre-payment on leasing project of the Ansar Leasing will start from 20% and leasing period is 12-72 months.
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