DUSHANBE, July 19, Asia-plus — Problems of leasing market in Tajikistan perspectives of its development and coverage of lessors’ activities were discussed at a conference formally entitled “Leasing in Tajikistan: Start to the Future” in Dushanbe on July 19
The conference participants included representatives from the government, banking sector, business environment, donor and international financial structures active in Tajikistan.
According to Mathew Scanlon, Officer of International Finance Corporation (IFC) for Investments, development of leasing is one of priorities for IFC, whose Central Asia Leasing Project has united the market participants and provided an efficient cooperation to promote development of leasing in Tajikistan. Twelve financial institutions from Tajikistan, Azerbaijan, Kyrgyzstan and Uzbekistan have to date participated in the project.
“The government attaches a special significance to development of this financial instrument, which promotes renovation of main means and material-technical basis of local enterprises and improvement of their competitiveness on the market,” Malohat Keldiyorova, Adviser to the Tajik President for Economic Matters, said.
Five lessors are expected to have actively worked in Tajikistan by the end of this year.
TojikSodirotBonk (TSB) was the first in Tajikistan to act in the role of lessor in 2001. TSB has to date has written eleven leases for a total amount of more than 15 million somonis. Having realized the importance of development of leasing, the bank set up Tajikistan’s first leasing company Nakhust Leasing in 2005, which has to date written leases for a total amount of more than 3 million somonis.
In 2006, leasing company Inter-Leasing increased number of lessors in Tajikistan.
Last May, open joint-stock company (OJSC) AgroInvestBonk registered another leasing company LeasingFinance.
In August, the First MicroFinance Bank of Tajikistan (FMFB-T) will start leasing operations. It will offer its customers new product – microleasing, which allows funding small and medium enterprises to purchase various inexpensive equipment and transport means. Microleasing, the financing of small value leases typically under $25,000, has significant promise in Tajikistan.
During the conference, it was noted that despite positive results of development of leasing sector in the country issues of optimization of taxation of leasing operations have not yet been resolved completely.
At present IFC jointly with lessors of the country is discussing issues related to legalization of mechanism of repeat leasing and proposals on the most optimal regime of taxation of the leasing operations.
