The leading IT solutions provider in Azerbaijan, Cybernet won tender announced by Azerbaijan’s Financial Market Supervisory Authority for development of software for the State Registry of Collateral over Movable Property.
Creation of the State Registry of Collateral over Movable Property in Azerbaijan will help to develop small and medium-sized enterprises in the country and simplify their access to the finances.
The State Registry of Collateral over Movable Property will create the database of the encumbrance of movable property that has not got state registration; enable free access of lending institutions to this information; enable repeated usage of property; limit the rights on its usage and expand the selection of collateral.
The creation of the registry will facilitate the access of business to financial resources and simplify the use of movable objects as the pledge in obtaining a loan.
In the frames of the project representatives of Financial Market Supervisory Authority and Cybernet researched best practices of existing systems of the encumbrance of movable property through experience sharing programs.
Established in 2004 Cybernet is the leading organization, engaged in creating and implementing IT infrastructures for enterprises, providing technical solutions, developing software of any level of complexities, both in the local market and in the countries of Central Asia. The company actively participates in state projects in Azerbaijan. Cybernet also successfully developed an integrated information system for the Republic Center for Health Development in Kazakhstan in 2017.