Bill on construction-savings bank to be sent to government

Chairman of the Management Board of the National Bank, Elman Rustamov, said the work on the bill is about to be complete.

Germany's scheme was used in developing the bill. The savings is accumulated for three years and the depositor is lent a mortgage loan after 36 months, he said.

Rustamov said the scheme will facilitate mortgage lending through the funding from the State Budget.

The bank's finances can be placed in the form of T-bills and notes. Prudential standards are being developed for establishment of the banks. The limit on these banks' capital will not be severe and will be similar to the banks opened with the capital of AZN 10mln, he underscored, APA reports.