Bank Of Baku

Azerbaijan submits Bill on Realtor Business to IFC

Azerbaijan submits Bill on Realtor Business to IFC
# 02 November 2009 16:28 (UTC +04:00)
Baku. Nijat Mustafayev - APA-ECONOMICS. Baku Realtors Association has presented the Bill on realtor Business to the International Finance Corporation (IFC), said Nusret Ibrahimov, head of MBA consulting firm which is one of the founders of the association.

“The IFC will express its recommendations and comments on the bill. After that, we will submit the bill to the government for approval,” he added.
According to him,

Once the bill is approved, the activities in the field of real estate services will be fully institutionalized and this document will prevent the illegal work of some private realtors.

IFC, a member of the World Bank Group, had helped establish the first residential property appraisal system in Azerbaijan that will help people use real estate as collateral for obtaining bank loans and support development of the local mortgage market.

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives.
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