Azernews.Az

Thursday March 28 2024

Cybernet to develop software for State Registry of Collateral over Movable Property

28 March 2018 15:37 (UTC+04:00)
Cybernet to develop software for State Registry of Collateral over Movable Property

By Rashid Shirinov

Cybernet, the leading IT solutions provider in Azerbaijan, will develop software for the State Registry of Collateral over Movable Property, the company informed on March 28.

The company won the relevant tender announced by Azerbaijan’s Financial Market Supervisory Authority.

Creation of the State Registry of Collateral over Movable Property in Azerbaijan will help develop small and medium-sized businesses, facilitating their access to financial resources.

The Registry will create the database of the encumbrance of movable property that do not have the state registration, provide free access of lending institutions to this information and repeated usage of the property, limit the rights on its usage and expand the selection of collateral. The Registry will also allow legal entities and individuals to register their movable property and subsequently use it as pledge in obtaining a loan, which will simplify their access to finance.

Within the project, representatives of Financial Market Supervisory Authority of Azerbaijan and Cybernet got acquainted with the best international practice in this area through experience sharing programs.

Cybernet company started its activity in 2004. Having extensive experience in the creation of e-services and application solutions for e-Government, it offers IT services and solutions in Azerbaijan and Central Asian countries.

The company's main mission is to provide both private and state organizations with up-to-date information technologies, improve the business processes of financial organizations, as well as local and international companies with IT solutions.

Last year, Cybernet successfully developed an integrated information system for Kazakhstan's Ministry of Health.

---

Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

Follow us on Twitter @AzerNewsAz

Loading...
Latest See more