Sun, 24 August
35.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Leasing procedures will be simplified in Armenia

YEREVAN, February 13. /ARKA/. Leasing procedures in Armenia will be simplified, and market volumes are expected to double, Deputy Economy Minister Avag Avanesyan said during a government meeting on Thursday.

The government made today a set of changes to a number of laws, aimed at simplifying the procedures for concluding leasing transactions.

“The changes regulate the leasing field and open up new opportunities for the development of this sector. As a result, we expect that after the changes are adopted the amount of leasing transactions will double,” Avanesyan said.

He said one of the changes stipulates the leasing agreement can be concluded by two parties. Under the current law they are to be signed by three parties .

According to him, this will allow to carry out so-called secondary leasing transactions, Thus, if earlier one could lease an agricultural machine and then return it, the bank could no longer re-lease that machine.

According to the deputy minister, leasing transaction will similar to providing a property-secured loan, which will also help reduce interest rates in the market.

The amendments also provide for the solution of such issues as payment of taxes, VAT, penalties for violation of traffic rules, depreciation expenses and a number of other issues, which will increase the attractiveness of leasing. –0–

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Unibank Issued Preferred Shares with a Fixed Annual Dividend of 12%

Unibank announces a new issue of Class “G” convertible preferred shares, offering investors a fixed annual dividend of 12%. The total issue volume amounts to AMD 1.5 billion.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img