OREANDA-NEWS. On July 02, 2007 Azerbaijan Mortgage Fund (AMF) opened branch in Nakhchivan, APA Nakhchivan bureau reports. The presentation ceremony of the branch established for giving mortgages was held in Nakhchivan Autonomous Republic, reported the press-centre of "Alfa" Insurance LLC.

Chief of Nakhchivan branch of National Bank of Azerbaijan (NBA) Sabuhi Mammadov said that Mortgage Fund for the first time set up in the South Caucasus play important role in providing the people with houses and added that over 1500 people were given mortgages.
NBA Director General Rufat Aslanli said that Nakhchivan branch of the National Bank was established by the order of NBA Management Board on May 31, 2007. NBA Managing Director Faig Mammadov said that conditions for receiving mortgages have been simplified.
The managing director said qualification seminars and trainings will be organized for the bank officers.

Following this, the documents of AMF’s Nakhchivan branch were presented to NBA Nakhchivan office.