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Number of Azerbaijan Mortgage Fund’s authorized agents increases

Business Materials 12 January 2015 10:37 (UTC +04:00)
The number of appraisal companies-authorized agents of the Azerbaijan Mortgage Fund (AMF) under the Central Bank increased by one

Baku, Azerbaijan, Jan. 12

By Azad Hasanli - Trend:

The number of appraisal companies-authorized agents of the Azerbaijan Mortgage Fund (AMF) under the Central Bank increased by one, AMF said on Jan 12.

The number of appraisal companies-AMF agents increased from 15 to 16 as a result of including such company as FM Consulting on the list.

At present, AMF agents are the following appraisal companies, namely, AzIntellekt Servis, IVC-International Assessment Center, Bilender, Koneko, MBA LTD, VESKO, REC-İnvest, Real Prays, İNTEGRİS, Zafar M, Real Estate Services, Property, Grand Baku, ERA-marketing center and VETO Consulting.

AMF was created in September 2005 by the Azerbaijani president's decree as a state organization. Its charter was approved by another presidential decree in December 2005.

AMF's main aim is to create the mechanisms of financing in connection with providing Azerbaijani citizens with housing through long-term funding and drawing domestic and foreign investments in mortgage lending.

AMF authorized agents are 28 banks and 21 insurance companies.

The Azerbaijan Mortgage Fund (AMF) under the Azerbaijani Central Bank delivered loans amounting to 88.6 million AZN in January-November 2014 or 8.1 percent less than in the same period of 2013. Mortgage loans worth 621.8 million AZN have been delivered since launching financing through the AMF.

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Follow the author on Twitter: @AzadHasanli

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