Azerbaijan to give financial support on soft mortgage loans to military personnel – decree

BAKU: President of the Republic of Azerbaijan Ilham Aliyev has approved the "Procedure for providing state financial support for preferential mortgage loans to military personnel educated in special educational institutions subordinate to the national defense university, which is part of the Ministry of Defense", Trend reports. The head of state signed a new decree related to this and made amendments to several other decrees. In accordance with the changes made to the "Regulation on the electronic mortgage and credit guarantee system", approved by the president's decree on May 1, 2018, the Ministry of Defense is granted the following powers regarding the provision of state financial support for preferential mortgage loans issued to military personnel: - obtaining the necessary information to provide financial support; - informing the individual seeking a mortgage loan on the day the relevant decision on financial support is made; - providing information to the Mortgage and Credit Guarantee Fund and the a uthorized bank in cases of termination or resumption of financial support; - using relevant statistical data and reports through the electronic system. Source: Trend News Agency

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