Today Khalq Bank issued the 2256th mortgage YTD under the program. So the amount of the mortgage loan portfolio of the bank has exceeded 82 million manat.
As reported by Turan from this financial structure, 1,186 loans of this type have been issued under the State program of the Azerbaijan Mortgage Fund (AMF), and 1,070 mortgages were on the bank’s own mortgage program.
Khalq Bank mortgages are granted for 25 years at a minimum rate of 10% per annum. Maximum loan amount is 500,000 manat, which can be received even by non-residents of Azerbaijan.
The private mortgage lending program of Khalq Bank was launched in May 2012. - 17D-
Economics
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In July 2024, the State Oil Fund of the Republic of Azerbaijan (SOFAR) reported a sharp increase in currency sales, reaching $826.3 million. This figure is three times higher than the $272.7 million recorded in July 2023 and twice the amount for June 2024.
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The State Statistics Committee has reported a decline in Azerbaijan's grain production for the first half of 2024, with output totaling 1.96 million tons of grain and legumes, including corn. This represents a 5.6% decrease compared to the same period last year.
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Azerbaijan's President Ilham Aliyev has issued a decree making significant amendments to existing presidential decrees to align with the new law on payment services and payment systems, effective from July 14, 2023.
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Azerbaijani President Ilham Aliyev has approved new regulations governing tourism and recreation zones as part of a broader effort to enhance the sector's infrastructure and investment framework.
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