The sixth placing of the eighth issue of bonds of the Azerbaijan Mortgage Fund (AMF) took place. The May 19 auction, according to the Fund itself, exhibited securities amounting to 5 million manat.
According to the results of the auction, which was attended by three investors, the entire volume of bonds was placed. The total volume of the submitted bids was 14,383,000 manat . In February and May 2014 AMF placed bonds for AZN 30 million of the eighth issue.
Recall the SSC in January this year registered a prospectus of the eighth AMF bond issue by 40 million manats (40,000 secured bonds each worth 1 000 manats). The maturity period is 3,600 days, the rate is 3% per annum and the interest payments are every 180 days.
Earlier, in 2009-2013 the Mortgage Fund within seven issues posted bonds totaling 300 million manats.
AIF from March 2006 began to issue mortgage loans. Issuance of social mortgage in Azerbaijan began in 2007 and lasted for 6 months. On June 1, 2009 renewed the process of mortgage loans on commercial terms through 28 agent banks. On commercial terms, mortgages are issued by funds raised by the Fund from issuing its own bonds.
Mortgage loans on commercial terms are issued in manats and are only provided to Azerbaijani citizens. Loans are granted for a period of 3 to 25 years, the maximum loan must not exceed 50 000 manat, the loan is granted at a rate of no more than 8 % per annum.
Financed from the state budget is only social mortgage. Its maximum size is 50,000 manat at the rate of not more than 4% per annum. - 17D-
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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