NBA expects results of documents expert examination for Mortgage Fund establishing

Business Materials 12 December 2005 17:57 (UTC +04:00)

Organizational works on establishing the Mortgage Fund are underway, the Board chairman of the National Bank of Azerbaijan (NBA) Elman Rustamov told journalists, Trend reports.

According to him, the works on establishing the fund’s organizational structure and etc. are currently underway. “We have prepared all fund-related documents and submitted them.

They are currently undergoing expert examination. It is a very complicated process and takes much time and the process is extended”, Rustamov said.

He also noted, after the documents are back to NBA they will set to large-scale activities.

The NBA Board chairman said also, some groundless and provocative information is being disseminated lately on the mortgage project.

According to him, they have prepared proposals by the instruction of the head of the state for receiving loans on long-term, convenient and favorable conditions for young families. These proposals have been submitted to the Cabinet of Ministers and the Ministry of Youth, Tourism and Sports.