As of May 1, agent banks of the Azerbaijan Mortgage Fund (AMF) issued 14,540 mortgages. Data since March 1, 2006 published on the AMF website .
According to official figures , the volume of mortgage lending by the Fund in the years 2006-2014 amounted to 576 665 130 manat.
AIF established in December 2005 , in March 2006 began to issue mortgage loans. In January 2007, began issuing social mortgage ( maximum loan amount is not more than 50 000 manats at a rate of no more than 4 % per annum ) , which lasted for six months.
Mortgage loans on commercial terms issued to citizens of the Azerbaijani manat ranging from 3 to 25 years. The maximum loan amount does not exceed 50 000 manats at the rate of not more than 8 % per annum.
In 2013, the volume of mortgage lending by the AMF reached 112.9 million manat. - 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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