The approval, confirmed in Document 1264/NHNN-TTGSNH, allows the firm to provide bonds with a maximum 5-year term.
Established in 2013, the VAMC, a one-member limited company, is aState tool for managing bad debt. Accordingly, it purchases bad debtfrom banks, recovers and restructures the debt, and sells collateral. Italso adjusts loan conditions and converts debt into equity.
The company is permitted to consult and act as a broker to trade debtsand assets, make financial investments, purchase sales, auction offassets, and provide guarantees for businesses and individuals to accessbank loans.
The VAMC’s bonds are only used to buy bad debt from commercial banks and cannot be traded on the stock market.-VNA