Azerbaijan, Baku, May 25 / Trend U. Ismayilova /
The Azerbaijani Hypothec Fund under the Azerbaijani Central Bank has suspended granting of hypothecary loans since summer 2007 because of lack of means and resumed a list of insurance agents, the fund said on May 25.
The updated list includes seven evaluative companies (compared to 15 earlier) - AzİntellektServis, İVC, Bilender, Koneko, MBA LTD,VESCO,"MAK Consultancy Baku LTD.
Presently, the fund refinanced hypothecary loans in the amount of 63.9 million manat granted by authorized banks or 94 percent of total amount of hypothecary portfolio. The fund conducted active operations on financing of house purchasing from March 2006 to June 2007. That time banks granted hypothecary loans in the amount of 67.9 million manat.
Roughly 94 million manat in the Azerbaijani state budget is envisaged for hypothec financing via the Azerbaijani Hypothec Fund over 2005-2008, 68 million manat has been already allocated via banks.
There is 14.5 million manat in the state budget to finance social hypothec in 2009.
On May 25, the official exchange rate is 0.8036 to $1.
Do you have any feedback? Contact our journalist at [email protected]