Central Bank holds awareness webinars on benefits of State Registry for Encumbrance of Movable Property

16-03-2021

12 March 2021, Baku: The Central Bank always attaches great importance to implementation of assignments of the President of the Republic of Azerbaijan on expanding access to finance and improving provision of financial services to small and medium enterprises (SMEs) in the country. The Bank is taking appropriate measures to increase financial inclusiveness, diversify delivery channels of financial services, especially elevate availability of financial and payment services in regions.

Awareness webinars are being held for various focus groups to regularly update and expand the coverage of the State Registry for Encumbrance of Movable Property (SREMP).  As a follow-up to these events, from March 5 to 12, 2021, the Central Bank held awareness-raising webinars on ‘Opportunities and benefits created by the SREMP’ with the participation of relevant employees of all banks and non-bank credit institutions operating in the country. In total, more than 90 participants joined the event.

During the presentation, the participants were informed on what the State Registry is, obtaining information about  movable property as a subject of collateral, ease of the procedure for searching obligations of potential borrowers, creation of preferential rights for encumbrance owners and were demonstrated the advantages of the information resource.

To facilitate access of the population and businesses to financial resources and ensure widespread use of new financial instruments, the Central Bank plans to hold regular meetings on the topic.