In accordance with the relevant Decision approved by Order No.1113, dated 16.11.2016, of the President of the Republic of Azerbaijan, one of the concessions offered to people who have a right to acquire an affordable apartment is a mortgage credit granted at the expense of the Mortgage and Credit Assurance Fund of the Republic of Azerbaijan.
The opportunity to benefit from this concession for citizens who received an electronic cabinet by getting registered with the “Affordable Housing” System are ensured by credit organizations included in the authorized banks of the Mortgage and Assurance Fund of the Republic of Azerbaijan who have concluded a cooperation agreement with "MIDA" LTD under the State Housing Development Agency of the Republic of Azerbaijan.
With a view to ensuring the convenience of citizens, SHDA continues to extend the circle of the banks it has been in cooperation in this field. Next financial organization to sign a cooperation agreement with MIDA LTD was "Rabitabank" OJSC.
Having been in operation since 1993, Rabitabank is represented in 14 regions of the country with its service network including 26 branches and 1 division, along with preserving its position among the large banks of the country.
Thus, the number of banks that have signed a cooperation agreement with "MIDA" LTD in connection with granting citizens a mortgage credit on preferential terms at the expense of the Mortgage and Credit Assurance Fund of the Republic of Azerbaijan reached the number of 7. Earlier, similar agreements were signed with “Kapital Bank” OJSC, “Azer-Türk Bank” OJSC, “Bank VTB (Azerbaijan)” OJSC, International Bank of Azerbaijan OJSC, “TuranBank” OJSC, and “PAŞA Bank” OJSC.