As of November 1 the Azerbaijan Mortgage Fund (AMF) issued a total of 17,997 mortgage loans totaling 730 million 802.42 thousand manat.
The same indicators were at the beginning of June, that is, in the last five months no housing mortgage loan was issued. Two loans of 2,500 manat each were issued in May. In April two loans were issued in the amount of 93.02 thousand manat.
Recall, last year was more effective for borrowers – 2,146 loans totaling 97 million 273.98 thousand manat were issued.
Housing loans have been issued by the AMF since 2006, but the social segment (up to 50,000 manat under 4% per annum) has been virtually absent from the second half of 2007. Now the issuance of commercial mortgage loans (up to 50,000 manat under 8% per annum) is inhibited.
The reason is the lack of benefits from mortgage lending for the authorized financial institutions. They earn more from consumer (20 to 40% per year) and business (12 to 18%) credits. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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