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Azerbaijan Amends Charter Of Mortgage And Credit Guarantee Fund - Decree
(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 27. President IlhamAliyev has signed a decree amending the Charter of the Mortgage andCredit Guarantee Fund of the Republic of Azerbaijan, Trend reports.
According to the decree, subparagraph 5.6.9 of the charter wascanceled.
This decree abolished the obligation to approve the prospectusfor the issue of bonds of the Fund, which was the authority of theChairman of the Board.
The MCGF (Mortgage and Credit Guarantee Fund of Azerbaijan) is agovernmental fund formed by the merger of the Azerbaijan MortgageFund and the Credit Guarantee Fund of the Republic of Azerbaijan in2017. Its goal is to improve living circumstances, establish anefficient financing mechanism for house construction, attract localand foreign investors to mortgage lending, and help SMEs gainaccess to credit.
The Chairman of the Management Board is Fakhri Kazimov.
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