The auction on placement of bonds in the amount of 5 million manat belonging to Azerbaijan Mortgage Fund is scheduled for 1 April. According to the AMF website, the action is carried out in the framework of the ninth issue. There are 5,000 bonds denominated in one thousand manat for each security. The bonds will be exhibited at the price of 100.6500%.
AMF has placed bonds for 3 million manat from the ninth issue. Recall, the State Securities Committee (SSC) on December 30 last year registered the ninth AMF bond issue in the amount of 50 million manat. The emission is divided into 50,000 covered bonds denominated in one thousand manat per security. The maturity of the bonds is 10 years at a rate of 3% per annum.
From 2009 to 2015, the AMF within eight issues posted bonds totaling 340 million manat.
AMF was established in December 2005 and the next March it began to issue mortgage loans. Issuance of social mortgage (maximum size is 50 thousand manat at a rate no more than 4% per annum) financed from the state budget began in January 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years and the maximum loan must not exceed 50 thousand manat. A loan is granted at a rate of no more than 8% per annum. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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