BAKU, Azerbaijan, October 1. Loans in the amount of 2.28 billion manat ($1.34 billion) were provided through electronic system of Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF), Director of the Mortgage Loans Department of MCGF Rasim Abdullayev said during media training, Trend reports.
According to Abdullayev, totally 90,000 accounts (online cabinets) have been created, 36,500 active life insurance contracts and 33,100 property insurance contracts have been registered in the electronic system to date.
"Entrepreneurial loans through the electronic system were provided with guaranteed loans in the amount of 320.7 million manat ($188.6 million)," the fund’s representative said.
According to the fund, 2,463 housing lease agreements have been concluded through the electronic system.
The Mortgage and Credit Guarantee Fund was established following the Presidential Decree in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.