Azerbaijan, Baku, Oct. 11 / Trend I. Khalilova, N. Ismayilova /
The Azerbaijani Mortgage Fund (AMF) under the Central Bank (CBA) is developing a project "E-mortgage". It will minimize the human factor while granting mortgage loans, the CBA chairman Elman Rustamov said.
"Today, the Mortgage Fund is working to create a project of 'E-mortgage'. We think that we will be able to launch it soon," Rustamov said.
He said that the appeals will be received through authorized banks directly into the mortgage fund.
Over three quarters of this year, the Azerbaijani Mortgage Fund granted loans amounting to 73.5 million manat. The process of mortgage lending, launched on March 1, 2006, was suspended in summer of 2007 due to lack of funds. The process was renewed in June 2009.
On Oct. 11, the official exchange rate is 0.8020 manat to $1.