Bank Of Baku

National Bank of Azerbaijan considers new proposals on mortgage law sent to

National Bank of Azerbaijan considers new proposals on mortgage law sent to
# 10 April 2009 13:25 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan Banks Association has approved and submitted to National Bank of Azerbaijan the final draft of Proposals on Mortgage Law Improvement.

Farhad Aliyev, the Chairman of Azerbaijan Banks Association, said the proposals are subject to approval by the Cabinet after the central bank’s review.

According to him, the proposals are mainly aimed at softening terms of lending mortgage loans.

Azerbaijan Banks Association has been in operation since March 1990.

Its members include 44 banks and 4 non-bank lending institutions.
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