Central Bank chairman says mortgage lending terms not expected to change in Azerbaijan this year

Azerbaijan is not expected to change terms of social mortgage this year”, chairman of the Azerbaijan’s Central Bank Board of Directors Elman Rustamov told journalists.

The state budget considers AZN 14 million for social mortgage credits in 2011 and it would be paid to population this year.

“The terms will not be seriously changed. There is intensive requirement for social and commercial mortgage in the market now”.

Rustamov said CB together with the government was seeking opportunities for extension of social and commercial mortgage and at the same time to improve the current mortgage system. He said increasing of requirements was caused by intensifying of construction sector work.


/APA/