Bank Of Baku

Elman Rustamov: “The need for mortgage loan is high in Azerbaijan”

Elman Rustamov: “The need for mortgage loan is high in Azerbaijan”
# 11 October 2010 14:14 (UTC +04:00)
Note that AZN 14 mln was planned to be allocated for social mortgage loan in state budget for 2011.

According to him The sum allocated for mortgage was determined in context of budget growth. “To my mind this is cogent. Because of, it’s not right increasing of social mortgage by many times if the budget increases by some times.”

The means for commercial mortgage loans is borrowed from market via BSE. “I don’t agree with opinions that conditions of commercial mortgage are more difficult. Because its rates are lower by 2 times than current market rates.”
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