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Azerbaijan’s Nakhchivan Autonomous Republic Prepares for Mortgage Crediting

Business Materials 20 August 2007 20:30 (UTC +04:00)

Azerbaijan, Nakhchivan / Trend corr E. Mammadov / Azerbaijan's Nakhchivan Autonomous republic (NAR) will begin the allocation of mortgage credits at the end of August, the Chairman of the Board of the NAR National Bank, Sabuhi Mammadov.

According to him, authorized credit organizations functioning in NAR will begin the allocation of mortgage credits at the expense of the Mortgage Fund at the beginning of this month.

By the decision of the National Bank dating to 31 May 2007, a branch of the Azerbaijan Mortgage Fund was established in NAR to attract investments into mortgage crediting.

Mammadov added that 29 appeals had been received from NAR residents wishing to be allotted mortgage credits.

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