Register of encumbrances of movable property appears in Azerbaijan

14:52 - 15.03.2018


March 15, Fineko/abc.az. Financial Markets Supervisory Authority of Azerbaijan has today presented the state register of encumbrance of movable property.

Chief Executive Director of the Authority Ibrahim Alishov said that the subject of the register are any objects of movable property, including intellectual property.

"The mechanism of the registry is very simple, and every citizen will be able to register on a special portal for its use. In the future, banks and non-bank credit organizations will be involved in the process, with whom educational work is being carried out in this direction. This register will prevent the reuse of collateral objects, which now occurs very soon, since movable property becomes the object of pledge mainly in the oral form, due to the lack of such a registry, " Alishov said.

According to him, there will be no evaluation activity in the field of encumbrance of movable property, in order to prevent tension, the cost of the facility will be determined on the basis of agreement of the parties. Tariffs for the services of the register will be indicated on a special portal.

 

 

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