Azerbaijan opens discussion on implementation of mortgage loan collateral
Baku, Fineko/abc.az. Discussion of the issue of sale of property pledged for payment of mortgage loans is to begin in Azerbaijan.
Informed sources say that the discussion will be based on a survey and assessment of the matter of implementation of mortgage loan collateral in the country. The study was conducted within the framework of Primary Mortgage Market Development Project of the International Finance Corporation (IFC).
"Presentation of the study results is expected in Baku on 19 November with participation of commercial banks, the Central Bank, Azerbajan Mortgage Fund, the IFC,” the source said.
The event is likely to touch such vexed question as registration of the pledged property. Earlier the Association of Banks of Azerbaijan also prepared proposals to simplify the rules of implementation of loan collateral.
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