Based on the relevant Rule approved by Order No.1113 of the President of the Republic of Azerbaijan, dated 16.11.2016, one of the privileges offered to persons entitled to own an apartment on preferential terms is a mortgage credit given at the expense of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan.
The chance to benefit from this privilege was ensured for the citizens who have obtained personal electronic cabinets having been registered on the Affordable Housing System by credit organizations that have been entered on the list authorized banks of the Mortgage and Credit Guarantee Fund and signed a cooperation agreement with “MIDA” Ltd under the State Housing Development Agency.
In order to ensure the comfort of citizens, SHDA continues to expand the circle of banks it has been cooperating in this field. The next credit organization to sign a cooperation agreement with “MIDA” Ltd was TuranBank. Having been operating since 1992, TuranBank, with its 17 customer service structures, has been in the service of individual and corporate customers on easy and favourable terms.
It should be mentioned that, the number of banks that have signed a cooperation agreement with “MIDA” Ltd on granting a mortgage credit on preferential terms to citizens at the expense of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan is 6. Earlier, similar agreement had been signed with “Kapital Bank”, “Bank BTB”, “Azər-Türk Bank” OJSC, Bank VTB (Azerbaijan), and “International Bank of Azerbaijan” OJSC.