Azerbaijan, Baku /corr. Trend Sh.alizade / The Deputy Chairman of the Executive Board of the National Bank of Azerbaijan (NBA), Rufat Aslanly, said on 22 June that as a result of 2007, the NBA will prepare proposals regarding changing the mechanism of mortgage crediting and present them to the Government.
Aslanly considers the statement on increasing initial payments for mortgage credits to be groundless.
Aslanly explained a temporary termination of the mortgage crediting service due to absence of finances in the Azerbaijan Mortgage Fund.
"We expect to receive AZN 17mln from the State budget. In addition, the NBA appealed to the Government for additional finances for mortgage credits," he said.
Aslanly explained the delay in transferring the allocated finances as a result of technical issues.
According to him, up to now the Fund has financed mortgage credits in the amount of AZN 56mln.