TODAY.AZ / Business

Parliament to consider mortgage policy at fall session

29 June 2006 [08:25] - TODAY.AZ
Azerbaijani government will send new proposals on mortgage policy to Milli Majlis.

Parliament economic policy commission Chairman Ziyad Samadzade told APA that the proposals to be sent include the softening of the stipulations for mortgage credits by the state funds.

It is also planned to simplify the crediting procedure. However, Mr. Samadzade said that these proposals will be considered at fall session.

As from March 1 the Azerbaijani Mortgage Fund allotted over 30 mortgage credits and some of them were taken out by regions. The credits were provided by 15 credit companies.

In general AZN 26mn is planned to allocate to the fund by the state budget of 2006. per maximum credit amount is AZN 30,000 (70% of the apartment), credit period is 3-15 years, annual credit interest is up to 12%.

The credit interest for credit companies is 6%.

The credit companies are Azerbaijan International Bank, Capital Bank, Bank standard, Atabank, Azerdemiryolbank, Bank of Baku, Caucasus development Bank, Kochbank Azerbaijan, bank Respublika, Unibank, Bank NIKoil, Tekhnikabank, Turanbank and Khalgbank.

URL: http://www.today.az/news/business/27689.html

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