USD 1.7

Baku 25 °C

AZ RU EN FA FR

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Home page

Mugan Bank launches pawn-like money lending product

Mugan Bank launches pawn-like money lending product

30 June 2009 15:22 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Mugan Bank has launched a new loan product.

Elmir Hasanov, chairman of the bank, said the product is similar to a pawn loan.

However, unlike the pawn loan, the minimum term of the loan is 1 year and maximum term is determined through negotiation, interest rate is 30-32% a year, collateral must be 80% of the loan.

According him, the Bank has already lent AZN 250 000 on this product.

â€œWe developed this product amid stagnation in the crisis-hit credit market. This is not risky in the current circumstances and more and more customers apply for this loan,â€ he added.
Owned by 4 local individuals, Mugan Bank has been in operation since 1992.

Finance

Azerbaijan

Azerbaijan's insurance market grows by nearly 2% this year

Vusal Gurbanov, Director General of the Central Bank of Azerbaijan

Central Bank of Azerbaijan preparing amendments to compulsory insurance regulations

Chairperson of the Supervisory Board of the Azerbaijan Insurers Association Ulviyya Jabbarova

Azerbaijan's insurance market doubles over past four years

Aliyar Mammadyarov, First Deputy Chairman of the Central Bank of the Republic of Azerbaijan

Central Bank of Azerbaijan preparing new development strategy for insurance sector

ATTENTION!

Dear user for receiving paid news sign up

Sign up

ATTENTION!

Dear user for receiving paid videos sign up

Sign up

ATTENTION!

Dear user for receiving paid photos sign up

Sign up

THE OPERATION IS BEING PERFORMED