The bank-agents of the Azerbaijan Mortgage Fund (AMF) from March 2006 to September 2014 issued 609,443,100 manat to provide 15,326 mortgage loans (an average of 39 765.31 manat for each borrower).
According to the AMF website, in the first 6 months of 2007 the social mortgage was issued (maximum amount of credit being 50,000 manat at a rate of no more than 4% per annum). In connection with lack of profitability, the process stopped in anticipation of government incentives for commercial banks. Since June 1, 2009 mortgage loans have been issued on commercial terms (the maximum loan being 50,000 manat at a rate no higher than 8% per annum).
The mortgage lending involves 28 commercial banks - agents. On commercial terms mortgages are issued by funds raised from the issue of AMF bonds. Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Social mortgage is financed from the state budget. --17D-
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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