BAKU, Azerbaijan, Dec. 7
By Zeyni Jafarov - Trend:
The Azerbaijan Mortgage and Credit Guarantee Fund held an online conference related to the rental housing mechanisms at the beginning of this week, Trend reports on Dec. 6.
Since the foundation of the fund, its total assets amounted to 1.8 billion manat ($1.05 billion) and its capital - 822 million manat ($483 million). The fund has never had a loss during its activity.
The agent banks of the fund have issued over 31,000 mortgage loans worth 1.6 billion manat ($941 million). Mortgage lending through the fund covers 51 Azerbaijani districts.
Last week, the Azerbaijani Center for Analysis of Economic Reforms and Communication published the Export Review for November.
In accordance with the report, as of early November 2020, foreign citizens spent 379.1 million manat ($223 million) in Azerbaijan through bank cards, which is by 2.8 times less than in the same period of last year.
Moreover, the Central Bank of Azerbaijan (CBA) announced the indicator of foreign exchange reserves.
So, as of early December 2020, the foreign exchange reserves of the Central Bank amounted to $6.4 billion, which shows an annualized growth of 3.7 percent.
Moreover, the Central Bank of Azerbaijan announced the situation in the insurance market in connection with fees and payments from January through October 2020.
In accordance with the report, Azerbaijani insurance companies collected insurance premiums worth 623.1 million manat ($366.5 million) from January through October 2020 and this figure is by 9.2 percent more than in the same period of last year.
The volume of insurance payments was estimated at 345.2 million manat ($203.05 million). The amount of paid insurance premiums is by 53.1 percent more than in the same period of 2019.
Moreover, Fitch Ratings international agency reported this week that the state of banks in four CIS countries (including countries with associated membership), namely, Azerbaijan, Kazakhstan, Ukraine and Uzbekistan, is stable, which allows making "positive" economic outlook.
In particular, a significant part of the countries' profit buffer accounts for banks in Azerbaijan and Kazakhstan.
The outgoing week was remembered for the decline in the manat rate compared to the currencies of the main partner countries, as well as the rise in oil prices in Azerbaijan.
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Trend News Agency department of economy