of December 22, 2005 No. 339
About approval of the Regulations on the Azerbaijani mortgage fund under the Central bank of the Azerbaijan Republic
For the purpose of creation of funding mechanism for mortgage loans in the Azerbaijan Republic I decide:
1. Approve "Regulations on the Azerbaijani mortgage fund under National Bank of the Azerbaijan Republic" it (is applied).
2. Approve "Rules of issue of mortgage loans at the expense of means of the Azerbaijani mortgage fund under the Central bank of the Azerbaijan Republic" it (is applied).
3. To Central Bank of the Azerbaijan Republic:
3.1. in 15-day time to approve structure and the staff list of the Azerbaijani mortgage fund under the Central bank of the Azerbaijan Republic;
3.2. until the end of 2006 to provide to the President of the Azerbaijan Republic offers on transformation of the Azerbaijani mortgage fund under the Central bank of the Azerbaijan Republic to joint-stock company and its privatizations;
3.3. within the powers to resolve other issues following from this Decree.
4. Charge to the Ministry of Finance of the Azerbaijan Republic to provide money transfer, the mortgage loans provided by the government budget of 2005 for financing, into the account of the Azerbaijani mortgage fund under the Central bank of the Azerbaijan Republic.
5. To the Cabinet of Ministers of the Azerbaijan Republic in a month:
5.1. establish procedure for granting of the state privileges on mortgage loans and approve rules of use of these privileges;
5.2. together with the relevant state bodies to establish the social categories having right to use of the state privileges on mortgage loans;
5.3. establish sources of the means required for provision of the state privileges on mortgage loans;
5.4. within the powers to resolve other issues following from this Decree.
6. This Decree becomes effective from the date of publication.
President
Azerbaijan Republic Ilgam ALIYEV
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