Public-private partnership in the development of banking services and entrepreneurship in Azerbaijan

Abstract

In June 2022, "Kapital Bank" OJSC, the largest commercial bank of the Republic of Azerbaijan, will integrate banking and tax systems into the State Tax Service in order to facilitate the access of entrepreneurs to financial sources, to ensure the organization and operation of unsecured business loans and factoring services, as well as A proposal letter has been sent regarding additions to invoices. In this article, the importance of that proposal for banks, entrepreneurs and the state will be examined, and if the proposal is accepted, it will be justified that there will be serious progress in the banking sector and the development of entrepreneurship. Changes to be made in the legislation and the steps to be taken for this have also been included in the article. The Ministry of Economy, the Small and Medium Business Development Agency and the Entrepreneurship Development Fund have also been informed about this, and joint efforts with the mentioned institutions are continuing for the State Tax Service to evaluate the proposals.