Authorized banks of Azerbaijan Mortgage Fund (AMF) issued in 2012, mortgage loans for 74.77 million manat, 20.87 million or 21.8% less than it was in 2011.
According to the AMF, for the period the fund was refinanced funds totaling 91.15 million manat (previous year 77.77 million).
Total from March 2006 the fund issued mortgage loans of AZN 420.23 mln. Of these people, 41% were aged between 18-29 years, 31% - at the age of 30-35 years and the remaining 28% - at the age of 36 years or more.
Today, the state finances a social mortgage, for the needs of the state budget in which the last two years was allocated AZN 20 million. In 2013, the social mortgage will be sent twice as much money.
Commercial mortgage financed through the issuance of bonds AMF. For this purpose during 2009-2012 Mortgage Fund placed five issues for AZN 55 million, AZN 75 million, AZN 60 million, AZN 20 million and AZN 30 million each. In December last year there was state registration of the issue prospectus of interest-entry registered secured bonds fund worth 40 million manat. From the latest issue of the fund is placed for AZN 3 million.
Mortgage loans are Azerbaijani citizens up to 50 manat for up to 25 years at a rate no higher than 8%. Concession loans are up to 35 manat for up to 30 years at a rate of up to 4% per annum. - 15V -
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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