A training was held in Gabala, to improve the principles of work and financial literacy of the State Registry for Encumbrance of Movable Property.

On August 30, 2019, a training was held in Gabala, on the purpose, principle of operation and advantages of the State Register for Encumbrance of Movable Property for micro, small and medium enterprises (SMEs) with the support of the Gabala Region Executive Power, together with the Financial Market Control Chamber (Chamber) and the Agency for the Development of Small and Medium Enterprises (ADSME). At the event, which was attended by entrepreneurs and representatives of credit organizations, information was provided on the successful results of the reforms carried out in the country, it was emphasized that, as a logical consequence of these reforms, our country was consolidated in 25th place among 190 countries, progressing 32 steps in the authoritative report “Doing Business - 2019”. Discussing the benefits of the Registry, detailed information was provided about its basic business principles, types of encumbrance and subject of encumbrance, and benefits for entrepreneurs and financial institutions. It was noted that, with the exception of movable property registered in the official register of movable property and securities subject to state registration, any movable property, as well as rights and claims, including movable property, which will be in the possession of the future, can be subject to encumbrance of the owner of the encumbrance. Movable property may include all types of equipment, agricultural machinery, animals, objects used in business. It was reported that as of August 30, 2019, more than 600 people were registered in the Registry and the number of notifications received in the system was more than 37,000. Then, information was provided on the purpose of creation and the directions of the ADSME activity, it was noted that the main task of the Agency was to provide the necessary support measures at all stages of the creation and development of small and medium-sized businesses. These include facilitating access to preferential sources of financing, applying advanced organizational models, creating a sustainable training system, integrating new ideas and innovations into business, accessing foreign markets, protecting the interests of entrepreneurs and much more. The training also covered issues related to awareness of the insurance market; Chamber staff made presentations about the insurance market, market characteristics and types of insurance.