Mortgage loaning to be expanded in Azerbaijan in 2010
Azerbaijan, Baku, Jan. 2 / Trend N. Ismayilova /
In 2010, Azerbaijan will expand mortgage loaning and and improve mortgage program, a statement of the Azerbaijani Central Bank (CBA) on the main directions of monetary policy for 2010 said.
Moreover, the country will continue to implement a mechanism of social mortgage in the state budget. Relevant measures will be held to support launching of housing and construction savings banks to improve the process and the establishment of a new mortgage model.
It is planned to stimulate access to financial resources via new mechanisms and institutes to ensure the economy's demand in capitalization. In particular, this process will be accelerated in the regions.
According to the new law "Non-bank loan organizations", their activities will be expanded to support expansion of microfinance.