The mortgage fund of Azerbaijan names the amount of loans granted…



Loans amounting to 2.28 billion manats ($1.34 billion) were granted through the electronic system of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan, the director of the MCGF Mortgage Department Rasim Abdullayev during a media training.

According to Abdullayev, a total of 90,000 (online cabinet) accounts have been created, 36,500 active life insurance contracts and 33,100 property insurance contracts have been registered in the electronic system so far.

“Business loans through the electronic system were matched with secured loans in the amount of 320.7 million manats ($188.6 million),” the fund representative said.

According to the fund, 2,463 housing rental contracts were concluded through the electronic system.

The Mortgage and Credit Guarantee Fund was established following the Presidential Decree of 2017 through the reorganization and merger of the OJSC Azerbaijan Mortgage Fund and the OJSC Azerbaijan Credit Guarantee Fund.

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