Azerbaijan Mortgage Fund banned granting of mortgage credits in the country
Baku, Fineko/abc.az. Azerbaijan Mortgage Fund ( AMF) under the Central Bank has banned issuance of mortgage credits on its standards to agent-banks.
The AMF agents have reported that the Fund closed crediting limits on its standards to all the banks.
" At that AMF does not even indicate terms for opening new limits and renewal of mortgage crediting on its standards ",- the Fund agent said.
At that AMF keeps on receiving documents for refinancing of earlier issued credits on its standards.
That is the second time when Azerbaijan carries out full termination of state mortgage program. On the first time everything was motivated by global financial crisis. But at present, neither the government nor the Central Bank report of economic or financial crisis in the country.
The AMF itself refuses to comment on its decision.
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