Azerbaijan, Baku, 27 May / corr. Trend I. Khalilova/ The house building-saving banks may be established with a government share in Azerbaijan, with a plan to privatize it in the future, said Fatulla Alakbarov, director of the Department for the Control on Credit Organizations of the National Bank of Azerbaijan (NBA).
"At present, we are reducing the government's share in the banking sector of Azerbaijan, however, it can offer a new set of assets in such a banking organization in a period of rise in these infrastructures," Alakbrov said.
The representative of NBA did not rule out the possibility of house building-saving bank establishment by foreign finance institutions.
The establishment of such banks will be possible after Bill on House Building-Saving Banks is passed, which is under consideration at present. According to Alakbarov, these banks will not be established on the basis of current banks and they will operate as separate institutions.
The lawyers of the German Bundesbank have assisted NBA in developing the Bill.
The house building-saving banks aim at mortgage and housing financing.
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