Azerbaijan, Baku, April 13 / Trend N. Ismayilova /
The quality of mortgage loans given by banks through the Azerbaijan Mortgage Fund (AMF), acting at the Central Bank, is at a high level, chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said.
"The Central Bank carries out monitoring of mortgage loans given through the AMF, and, according to their results, they have a high quality," Rustamov said.
In his opinion, it is explained by prudential measures taken by the CBA, and the mentality of the Azerbaijani people.
The optimal solution for the mortgage market in the country is also the creation of construction savings banks. The CBA has already begun work in this direction, Rustamov said.
"We do not consider their introduction as an alternative for mortgage lending, but as a new tool, which will be introduced on the mortgage market of the country at the same time," he added.