Azerbaijan Mortgage Fund (AMF) in January this year allocated 4.2 million manat (+800,000 or +23.5% from the previous year) to banks - agents under a special lending.
In addition, as stated in the report of the Central Bank (CBA), the AMF in January refinanced loans worth 5 million manat. In the same month, it placed bonds worth 3 million manat.
Mortgage Fund in March 2006 began to issue loans. Issuance of social mortgage in Azerbaijan began in 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years, the maximum loan must not exceed 50 thousand manat, and a loan is granted at a rate of no more than 8% per annum.
Funded from the state budget is only social mortgage. Its maximum size is 50 thousand manat at a rate not more than 4% per annum.
In 2014 banks - agents of AMF issued loans amounting to 97.1 million manat, which is 14% less than the record (110,700,000. Manat) index of 2013. --17D-
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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