BAKU: President Ilham Aliyev has signed a decree amending the Charter of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan, Trend reports.

According to the decree, subparagraph 5.6.9 of the charter was canceled.

This decree abolished the obligation to approve the prospectus for the issue of bonds of the Fund, which was the authority of the Chairman of the Board.

The MCGF (Mortgage and Credit Guarantee Fund of Azerbaijan) is a governmental fund formed by the merger of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund of the Republic of Azerbaijan in 2017. Its goal is to improve living circumstances, establish an efficient financing mechanism for house construction, attract local and foreign investors to mortgage lending, and help SMEs gain access to credit.

The Chairman of the Management Board is Fakhri Kazimov.

Source: Trend News Agency