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Central Bank of Azerbaijan: No shortage of funds for mortgage lending

Central Bank of Azerbaijan: No shortage of funds for mortgage lending

17 December 2009 14:18 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. There is no shortage of resources in the self-financing mortgage lending mechanism, said Alim Guliyev, the first deputy chairman of the Central Bank of Azerbaijan (CBA).

According to him, one of the most important measures implemented by the CBA this year, was the issuance of mortgage loans on the basis of self-financing mechanism.

"At present there are enough resources. Perhaps there are time limitations in preparation or submission of the relevant documents by some banks to the Azerbaijan Mortgage Fund. However, there is no resource problems, and 18 authorized banks continue to issue mortgage loans", he added.

He also added that work is underway to improve the mortgage lending mechanism.

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