AMF expands number of authorized agents

Business Materials 16 July 2011 12:21 (UTC +04:00)

Azerbaijan, Baku, July 16 / Trend N.Ismayilova /

The Zafar M appraisal company has become an authorized agent of the Central Bank's Azerbaijan Mortgage Fund (AMF), the fund said.

As a result, the number of AMF agents among appraisal companies hit 13.

The Azerbaijan Mortgage Fund was established in September 2005 in accordance with the presidential decree as a public institution. Its statute was approved by a separate presidential decree in December 2005. The AMF's main purpose is to establish mechanisms for financing in connection with providing Azerbaijani citizens with houses through long-term financing and attracting domestic and foreign investments in mortgage financing.

To date, AMF agents include 24 banks, 19 insurance companies and 13 appraisal organizations.