15.03.2018.FIMSA held a presentation.

The Financial Market Supervision Chamber (PFIR) of Azerbaijan today held a presentation of the register of movable property. The goal is to use movable property, in particular, equipment, telephones, and other means that are appropriate for the definition of collateral in the processing of loans, which will facilitate the activities of the private sector.
The property that is not registered in the state register will be registered in the register. Banks will keep track of this registry of movable property in order to be aware of whether the property that was once mortgaged, whether the property is under arrest or other legal actions and cannot be a guarantee for banks is used as a pledge.
Speaking at the presentation, the Chief Executive Officer of the House Ibrahim Alyshov said that the launch of this registry will allow the country to switch to new types of lending.
“The movable property registry will play a catalytic role in the development of small and medium-sized businesses in Azerbaijan. Currently, more property is preferred as collateral, but this carries certain risks. Therefore, we have expanded the list of the property that can act as a pledge, ”said I.Alyshov.
He considers important the registration of movable property for the development of the credit system in the country.
“Previously, we did not have the principle of free use of movable property, which, in turn, created difficulties in obtaining loans. Today's innovation is of great importance for the establishment of new economic relations. We are convinced that the launch of this registry will lead to positive financial processes and stimulate the development of our state ", said I.Alyshov.