Azerbaijan registers new NBCO

By Trend

A new non-bank credit organization (NBCO), FINKAPITAL LLC, has been registered in Azerbaijan, Trend reports citing the State Tax Service under the Azerbaijani Ministry of Economy.

The NBCO's authorized capital is 300,000 manat ($176,470), and Tural Baghirov is its official representative.

The state registration of the NBCO took place on July 1, 2021.

A non-bank credit institution, on the basis of a special consent (license), provides loans and other types of activities provided for by the Azerbaijani law ‘On non-bank credit organizations.’ Currently, 53 NBCOs operate in Azerbaijan.

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