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Chairman of Central Bank of Azerbaijan has made public some details of new mortgagel strategy.
According to him, new strategy is based on three principles.
“One of them is giving of preferential mortgage by state and optimization of these funds in the future. Second principle is more liberalization of commercial lending and carrying out of this work by banks, new proposal canals for banks, creation of new long-term fund canals. This happens through other segments of financial markets, particularly pension funds, insurance funds. On the other hand, we offer German model of mortgage. This mortgage is formed by personal charges. This model requires a special institution. The population collects funds up to certain sum. After collection, the population is able to get mortgage loan from bank. I think this model will be more useful in Azerbaijan”, Rustamov explained.
Apa.az
