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Ansar Leasing forms its first leasing portfolio

Ansar Leasing forms its first leasing portfolio

26 October 2009 16:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Ansar Leasing, established by Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD), has formed its initial leasing portfolio, said Ceyhun Naghiyev, General Manager of the Company.

According to him, the initial portfolio is AZN 300 000 which covers transport and service sectors.

He added that the company hopes to finance large projects in agriculture, construction, and healthcare, among others.

In his words, the company is targeting a US$50 million leasing portfolio by the end of the year.

The leasing company, with a paid-up capital of AZN5 million (US$6.2 million), was established to invest in Shariah compliant private business entities in Islamic countries.

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