Source: Khan Bank        June 09, 2010

Khan Bank has become the country’s first bank licensed to offer equipment leasing services. Upon receiving the special permit from the Central Bank, it entered into agreements with two vendor companies, Hyundai and Khukh Tengeriin Oron LLC. Hyundai primarily deals in heavy machinery and meets the needs of large firms, while Khukh Tengeriin Oron manufactures wool processing equipment for mainly family businesses. The new service will contribute to the growth of small and medium enterprises by enabling entrepreneurs to use new and innovative machinery or equipment on financial lease from the bank.
Khan Bank has announced that no collateral apart from the equipment itself is required to qualify for this service. Besides, the lessee may simultaneously act as an equipment vendor.