Concrete measures are being taken to improve entrepreneurship in our country, to create favorable business environment, to facilitate financial access of middle and small-scale businesses, to make use of movable and immovable property, to analyse the opportunities of use as mortgage, to believe in movable property as a mortgage which takes part in gaining profit by the banks and the legislation is improved in our country. For this purpose, the Law “About encumbrance of movable property” on 02.05.2017 was adopted and the state registry on encumbrance of movable property became functioning since March, 2018.
For the purpose of legal enlightenment and study of the international experience in this field, the Academy of Justice of the Ministry of Justice jointly with the Azerbaijan Representation of the International Finance Corporation (IFC) and Swiss State Secretariat for Economic Affairs (SECO) organizes a range of trainings on the theme of “Encumbrance of movable property”.
Acting rector of the Academy Elchin Khalafov, Project representative of IFC Teymur Heybatov and acting member of the Board of the Financial Markets Control Chamber Afgan Bakhishov made a speech on the opening of the next training held recently and stated that, the aim of the trainings is to study the issues coming from new legislation and international experience by the judges considering the disputes about encumbrance of movable property and is to prepare national trainers.
The lectures on the themes of “Summary of the legislative and institutional reforms in the field of financial infrastructure in Azerbaijan”, “Acquaintance with the encumbrance of movable property”, “Superiority rules in encumbrance of movable property”, “Judicial observance”, “Formation of encumbrance of movable property (formalization of deals)”, “Arrest of the subject of encumbrance” were taught by the representatives of IFC and Chamber in the training where the judges of the first instance courts were involved. And there was made exchange of useful ideas around the questions interesting the listeners.
