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.