The share capital of the Mortgage and Credit Guarantee Fund (IKZF) is to be increased.
Oku.Az reports that this is the president Ilham AliyevThis was reflected in the decree signed today on the approval of the “Rules on the provision of financial support by the State for preferential mortgage loans granted to military personnel who have studied in special education institutions dependent on the National Defense University, which is part of the structure of the Ministry of Defense.”
According to the decree, the Ministry of Finance should take measures related to the allocation of state budget funds in the relevant years to increase the authorized capital of the fund for financing preferential mortgage loans granted to military personnel.
It should be noted that IZF was established by the decree of the President of the country dated December 25, 2017, through the reorganization of OJSCs Azerbaijan Mortgage Fund and Credit Guarantee Fund in the form of a merger. Currently, its authorized capital is 980.7 million manats.
