On February 1, the average size of mortgage loans issued by JSC Khalg Bank amounted to 43.3 thousand manat. In general, the mortgage portfolio of the bank is 118 million 307 thousand manat, its official website says.
"Until now, the bank has issued 2,732 mortgage loans, most of which (52.5% or 1,433) fell on its own mortgage program. The remaining 1,299 were at the expense of the Azerbaijan Mortgage Fund.
As part of its own mortgage program, Khalg Bank provides loans for 25 years, the maximum amount is up to 500 thousand manat and the rate is from 10% per annum. Mortgage loans from the AMF are issued a maximum of 50 thousand manat.
JSC Khalg Bank received its banking license on December 30, 2004. Shareholders are three entities: LLC Euro Standard, Ltd. Ideal Business and Avant-garde. --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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