TODAY.AZ / Business

Bank Standard granted first mortgage loan

01 April 2006 [09:50] - TODAY.AZ
The Bank Standard Close Joint-Stock Company (CJSC) granted first mortgage loan through the Mortgage Fund of Azerbaijan (MFA).

According to APA, the accommodated party is a private company employee born in 1978. His monthly income is $1000. Authorized banks to provide mortgage loans from March 1 will have already received hundreds of appeals.

Provision of credits has already started. During this period, activity of 4 of 15 banks to supply mortgage loans met the requirements of the Fund. These are Bank Standard, Tekhnikabank, Turanbank and Khalgbank. The Mortgage Fund will allocate between $8-30 thousand for each of these banks in these days.

The first mortgage credit funded at the expense of internal resources of the Bank was extended to the borrower for 15 years period. However, those funds have not been obtained from MFA yet.


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