Azerbaijan Mortgage Fund (AMF) under the Central Bank raised a profit from 3,416,853 manat in 2012 to 4,015,624 manat last year.
This is one of the main points of the Fund's reporting for the last financial cycle. The AMF net interest income rose from 6,290,220 to 7,602,740 manat, and the operating income - from 6.11 million to 7.45 million manat.
As a result, the fund's assets amounted to 492.64 million manat, and the capital – to 191.16 million. Manats.
According to the Fund, in January-April this year, credit institutions authorized by AMF issued 40 million manat for mortgage loans - exactly as provided by the Ministry of Finance for social mortgage (up to 50,000 at 4% per annum). The size of mortgage for other categories of citizens is not limited; everyone may receive up to 50,000 manat provided 20-50% down payment (depending on the bank) and 8% per annum. - 17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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