Azerbaijan, Baku, May 3 / Trend A.Akhundov /
Azerbaijan's banks will start applying electronic mortgage in the second half of 2013, First Deputy Chairman of the Central Bank of Azerbaijan (CBA) Alim Guliyev told Trend on Friday.
According to him, the introduction of the e-mortgage is a dictate of time, and is necessary today.
"Right now, this system is applied in a test mode, and it will start working in real time in the second half of 2013 ," Guliyev said.
According to him, all the member banks of the Azerbaijan Mortgage Fund which will work in this system are preparingfor its introduction.
The registration at the 'e-mortgage' portal is 1 thousand manats. Banks having access to the portal will process applications and post them on it.
At present, 27 banks are the authorized banks of the Mortgage Fund are. 21 insurance companies and 11 appraisal organizations are participants of the mortgage market.
From the beginning of funding by the AMF - in 2006-2012 mortgage loans Mortgage credits in the amount of more than 421.89 million manats (74.77 million manats in 2012, 95.64 million manats in 2011, 97,08 million manats in 2010, 76.9 million manats in 2009, 70.2 million in 2007, 5.6 million manat in 2006) were issued in 2006 - 2012 since AMF financing started .
In the first quarter of 2013 AMF granted credits in the amount of 15.19 million manats, 4.47 percent more than at the same period last year.
The official exchange rate for May 3 is 0.7845 AZN / USD.
