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Azerbaijan Mortgage Fund at the National Bank of Azerbaijan February 9, 2007 - Baku Mortgage Market Development in Azerbaijan: Strategic Directions of the AMF Content Mortgage lending in the world AMF foundation First achievements & experiences Adjustments & Broadening SWOT

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azerbaijan mortgage fund at the national bank of azerbaijan february 9 2007 baku
Azerbaijan Mortgage Fund at the National Bank of Azerbaijan February 9, 2007 - Baku

Mortgage Market Development in Azerbaijan:

Strategic Directions of the AMF

content
Content
  • Mortgage lending in the world
  • AMF foundation
  • First achievements & experiences
  • Adjustments & Broadening
  • SWOT
  • Strategic goals
  • Partnerships
slide3

Russia: 1+%

$2 bln. in 2005

Kazakhstan: 5+%, $7 bln

slide4

Trends in

Azerbaijan

amf foundation
AMF Foundation

December 2002 The decision to develop mortgage credit mechanism

June 2005 The Law “On Mortgage”

September 2005 Azerbaijan Mortgage Fund

December 2005 The statue and rules of AMF

February 2006 The Standard requirements of AMF

March 2006 The first mortgage loan and refinancing (on AMF terms)

January 2007 The Decree on social mortgage mechanism

amf mission
AMF Mission

“The main purpose of AMF is to provide mechanisms for housing finance through long-term mortgage loans, as well as to facilitate attraction of local and foreign financial resources”

Presidential Decree N339

Baku, December 22, 2005

market infrastructure
Banks

Insurers

Appraisers

Brokers

AMF

Notary

Property Register

Securities Commission

Market Infrastructure
streamlining adaptation
Streamlining & Adaptation
  • Amendments to legislation
  • Streamlining of procedures
    • less paper work
    • less documents needed
    • more flexible choice
  • Reduction of interest rates
  • Reduction of down-payment
  • Increase of loan maturity
  • Social Mortgage

More

affordable lending!

primary market development
Primary market development

Sufficient official income

Source of capital / Refinancing

Affordable

Housing

Efficient banking services

Foreclosure, Register

secondary market
Secondary market

Developed primary market

Institutional Investors

DevelopedFinancial markets

Stable macro- economic env’t

Enabling legal env’t

swot analyses
Strengths

State support

Involvement of banks

High Demand of Population

Rising income levels

Weaknesses

Lack of experience

Low public awareness

Long procedures

SWOT Analyses

Opportunities

  • Affordable housing programs
  • Regional expansion
  • International integration
  • Development new products
  • Guarantee Fund
  • Securitization
  • Privatization

Threats

  • Limited funding
  • Misuse of resources
  • Rising housing prices
  • Low interest from market participants
strategic goals
Strategic Goals
  • Building an enabling legal environment
  • Development of primary market and its infrastructure
  • Reducing paperworks and formalities
  • Institutional development of AMF
  • Preparation for secondary market operations
potential areas for technical assistance
Potential Areas for Technical Assistance
  • AMF institutional building and functional development
  • AMF and mortgage system legal framework
  • Streamlining mortgage registration procedure
  • Market research/analysis
  • Support the development of the mortgage market infrastructure
potential areas for technical assistance17
Potential Areas for Technical Assistance
  • AMF Legal Framework – Part 2
    • Streamline the AMF’s standards and requirements  
    • Implement single closure
    • Strengthen foreclosure
    • Taxation
    • Draft legislation on MBS and their turnover
    • Draft legislation on savings and construction banks
potential areas for technical assistance18
Potential Areas for Technical Assistance
  • Market research/analysis
    • Identıfy Market Potentıal for new products
    • Set up a monitoring and forecastıng tool
potential areas for technical assistance19
Potential Areas for Technical Assistance
  • Support the development of the mortgage market infrastructure
    • Develop uniform standards in appraising and insuring
    • Implement mortgage credit registry
    • Develop single database system
    • Sımplıfy procedures and provıde transparency
    • Implement a wide-ranging mortgage awareness campaign
    • Hold an international conference and other professional events
slide20

THANK YOU!

Azerbaijan Mortgage Fund at the National Bank of Azerbaijan

Tel (99412) 5982008

Faks: (99412) 4935541

info@amf.az

www.amf.az