The Azerbaijani Cabinet of Ministers approved the procedure for the calculation of the total monthly income of borrowers on mortgage loans on the basis of standards of Azerbaijan Mortgage Fund.
As stated in the text of the decision №464 of November 16 (http://cabmin.gov.az/?/az/pressreliz/view/2132), the monthly income of entrepreneurs in the field of production and trade is calculated at the rate of up to 20%, and in services - up to 40% of the total turnover. Average figures for this category of borrowers are calculated on the basis of turnover in the last 2 years.
The income of citizens who are not engaged in business include, in addition to salaries, interest on deposits and securities, dividends, income from property rental, and royalties from the use of copyrights and patents. In addition, for both categories of borrowers their pensions, social benefits, insurance and lump-sum payments and so on are considered as income.
Borrowers can pay not more than half of their income to repay mortgage loans. --17D-
Economics
-
The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
-
Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
-
Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
-
The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
Leave a review