Leasing Company Ansar Leasing attracted from the Islamic Corporation for Private Sector Development a loan of $ 4 million.
As the general director Jeyhun Nagiyev said, the funds are allocated for a period of 3 years at 9 percent per annum.
In the first half of this year, the company's portfolio was $ 17 million and the share capital amounted to AZN 5 million.
Ansar Leasing was established by the Islamic Corporation for Private Sector (ICD) in mid-2009. This is the only leasing company in Azerbaijan working on Sharia principles (Islamic banking). It is also the most capitalized company in this segment of the economy. -15D -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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