Azerbaijani sources report that the Azerbaijan Association of Leasing Companies, Belarusian Association of Leasing and Russia’s United Leasing Association have created the International Leasing Union (ILU).
According to the information, the International Leasing Union was officially registered on December 3, talks about its creation were held in December 2011.
The aims of the union will be to develop essential areas and programs for all types of international leases while working with interstate coordinating bodies, participation in the development of national legislation towards the implementation of international leasing, draft agreements, conventions, corporate and legal framework of international leasing, analysis of the international leasing market’s structure and dynamics, and analytical information for members of the ILU amongst other things.
The Union is also expecting to enlarge by engaging participants from other countries. Note that the executive body of the newly created ILU will be located in Belarus.
