PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of June 22, 2016 No. 940

About some questions of mortgage lending in the Azerbaijan Republic

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, I decide:

1. It is cancelled.

2. It is cancelled.

3. Approve "Procedure for provision of mortgage, including soft mortgage loan at the expense of means Mortgage and credit guarantee fund of the Azerbaijan Republic.

4. For the purpose of provision of mortgage, including soft mortgage loan at the expense of means Mortgage and credit guarantee fund of the Azerbaijan Republic (further - Fund) to create the "Electronic Mortgage and Credit Guarantee" system on the Elektronnoye Pravitelstvo portal and to apply it since January 1, 2017.

5. It is cancelled.

6. It is cancelled.

7. It is cancelled.

8. Charge to the Ministry of Internal Affairs, the Ministry of Justice, the Ministry of Economics, the Ministry of Labour and Social Protection of the population of the Azerbaijan Republic, to charge and recommend to the Central bank of the Azerbaijan Republic, to render Fund assistance in the organization of activities of the "Electronic Mortgage and Credit Guarantee" system.

9. To the Cabinet of Ministers of the Azerbaijan Republic:

9.1. to prepare and provide to two-month time to the President of the Azerbaijan Republic the project of provision of the "Electronic Mortgage and Credit Guarantee" system;

9.2. in a month to prepare and provide to the President of the Azerbaijan Republic the offers connected with registration of the mortgage security and the organization of its address in electronic procedure;

9.3. to prepare and provide to two-month time to the President of the Azerbaijan Republic the offers connected with reduction of acts of the President of the Azerbaijan Republic in compliance with this Decree;

9.4. it is cancelled;

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