BAKU, Azerbaijan, Jan. 31
By Eldar Janashvili - Trend:
The activities of the Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) must be commercialized, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov told reporters at a press conference on Jan. 31, Trend reports.
According to Rustamov, with regard to MCGF, it is necessary to work towards raising funds from the domestic market and preparing projects to increase the volume of mortgage loans.
The banks themselves do not have long-term resources and this does not allow them to issue a mortgage for 20-25 years, Rustamov said.
The CBA is holding a press conference on the change in the discount rate.
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