Azerbaijan, Baku / corr Trend U.Ismayilova / The Azerbaijani Mortgage presented to the Government a package of proposals to ensure sustainable development of the mortgage market, Faik Mammadov, Executive Director of the Caspian Integration and Business Club (CIBC), said.
"In case the proposals of legislative character are adopted it will enable the Fund to enter the securities market," Mammadov said.
Mammadov said that without state support the rating of securities will not be high and do not enable to attract funds from the capital markets at available conditions.
The proposals concern not only removing the upper level of mortgage rates, but define the opportunities and mechanism for offering state guarantees.
In accordance with the experience of Russia and Kazakhstan, organization similar to the AMF enter the stock market not independently, but though the government's support, it will be difficult to realize borrowings without state support, because the interests rates will be high, he said.