Azerbaijani National Bank Considers Delay of Mortgage Credit Allocation by International Bank of Azerbaijan to be Natural
Azerbaijan, Baku / corr. Trend I.Khalilova / The National Bank of Azerbaijan (NBA) predicts grounded delays to begin in the allocation of mortgage credits by the International Bank of Azerbaijan (IBA) through the means of the Azerbaijani Mortgage Fund (AMF).
According to Rufat Aslanli , the deputy chairman of the NBA management, bank- agents of the AMF and IBA have a wide branch of networks.
The IBA opened its branch and held trainings of collaborators.
Presently, the put and call (the difference between the rates on allocation of funds from the main source via credits) in Azerbaijan makes up 6%, whereas the mortgage crediting makes up 4%. During the first stage of mortgage credits granted, Bank-agents are required to refinance the amount of money borrowed from AMF after the allocation of credits after a period of two months.
Currently some twenty-three from forty-four functioning Banks in the country are agents of the Mortgage fund.