“TAIBA LEASING” COMPANY TASHKENT INTERNATIONAL LEASING FORUM 28 -30 April, 2011 1
INTRODUCTION “Taiba Leasing LLC” Leasing Company started its activity on March, 2011; “Taiba Leasing LLC” is 100% subsidiary company of Islamic Corporation for the Development of the Private Sector (ICD); ICD is the part of Group of Islamic Development Bank; Charter capital of “Taiba Leasing LLC” is $5, 000. 2
Mission of “Taiba Leasing” Company is aimed on rendering of Lease Services compliant with Shariah rules on the market of Uzbekistan; Our main aim is to bring international practices to Uzbekistan and help local SME’s to maintain and generate employment; We support the companies producing export-oriented goods and with high level of local raw-materials utilization; Only resident companies from private sector are eligible; Private companies of all types of ownership are eligible: ◦ Joint-Stock Companies; ◦ Limited Liabilities Companies; ◦ Foreign Companies. We offer financing both in Uzbek Soums and in hard currencies; Leasing installments for equipment leased in hard currencies are to be repaid in Uzbek Soums at the Central Bank of Uzbekistan exchange rate. 3
Leasing Products 2 types of leasing are offered: ◦ Leasing (“Ijara”); ◦ Hire Purchase (“Murhaba”). The following leasing services are : ◦ ◦ ◦ financial leasing; buy-back leasing; vendor leasing, lease syndication, lease underwriting. 4
Leasing Products Details (I) Vendor leasing ◦ The tenancy when leasing company becomes an official financial partner of manufacturer and assists in maintaining its sales by providing financing to buyers which are not able to pay for equipment at once. All official dealers are eligible; Factors of concern: ◦ Demand for the vendor’s equipment; ◦ Terms of guarantee/warranty offered; ◦ Supply of the required spare parts. Our target clients for the vendor leasing: all local producers of machinery and equipment. 5
Leasing Products Details (II) Lease syndication: ◦ The process of involving a number of different lessors in providing various percentages of a particular lease's debt and equity components. A lease syndication can allow any one lessor to maintain a more prudent and manageable credit exposure and competitive pricing while still providing the lessee with the total financing it required. Lease underwriting: ◦ Arrangement under which a lessee enters into a lease agreement and assumes the responsibility of arranging any financing required. 6
General Terms of Leasing Tenor: 1 -4 years; Amount: $10, 000 - $300, 000; Minimum mark-up: 15%; Minimum down payment: 20%; Maximum grace period: 6 months; The final value of mark-up is calculated considering the risk factors, namely, the type of collateral, volume of down payment, etc. 7
Eligible equipment All types of equipment, machinery and motor vehicles for productive and business purposes under the small and medium industries for all sectors of economy are eligible; The suppliers eligible to be contracted must be the legal entities that are the producers of the equipment to be leased or the official (authorized) dealers of such producers. 8
Negative list equipment (I) Equipment not eligible for hard currency denominated leases: ◦ Used equipment; ◦ Reconditioned Equipment; ◦ Business or infrastructure related to tobacco industry, casino and gambling, war equipment and materials; ◦ Alcoholic beverages industry; ◦ Real estate (except for tourism or for purposes ancillary to non-real estate sector activities). 9
Negative list equipment (II) Equipment not eligible for Uzbek Soums denominated leases: ◦ the used and/or reconditioned equipment more than 3 (three) years old for transport and specialized machinery; ◦ the used and/or reconditioned equipment more than 3 (three) years old for production (manufacturing) equipment; ◦ If the independent evaluation for the used and/or reconditioned equipment is not available; ◦ business or infrastructure related to tobacco industry, casino and gambling, war equipment and materials; ◦ alcoholic beverages industry. 10
Risk factors affecting the final value of the mark-up: ◦ ◦ ◦ Type of the industry of lessee; Type of the equipment and its uniqueness; Client’s experience and credit track-record; Type of the collateral; Amount of the down payment. Equipment’s uniqueness increases risk level; Increase of the down payment diminishes the risk level. 11
Collateral additional to leased equipment is required; “Good” collateral considerably diminishes risk and favors to conclusion of the deal; The following types of collateral are treated as “Good”: ◦ ◦ Pledged deposit in bank, Banking guarantee, Real estate; Warranty of the third party. 12
Contacts General Director: Khaydarov Nodir; Address: 100066, Tashkent, Besh-Yogoch str. , 1, International Banking Finance Centre; Phone: (+99871) 140 -44 -49; Fax: (+99871) 140 -44 -48; E-mail: info@taibaleasing. com. 13
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