The audit of information technology systems of the Azerbaijan Mortgage Fund (AMF) is entrusted to LLC Deloitte & Touche.
According to the Fund, the selection was carried out by polling proposals and the contract was signed on July 28.
AMF was founded in late 2005, and in March 2006 it began to issue mortgage loans. Loans under social mortgage were issued only in the first half of 2007.
Commercial mortgage loans are issued only in the manat and only to Azerbaijani citizens for a period of 3 to 25 years with a maximum of no more than 50,000 manat at a rate of not more than 8% per annum.
Social mortgage is financed from the state budget - the maximum size is 50,000 manat, at a fixed rate of 4% per annum.
Last year, the volume of mortgage loans from AMF was 97 million AZN (minus 14.1 million to 2013). --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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