OREANDA-NEWS. April 10, 2012. OJSC "International Bank of Azerbaijan" (IBA) does not give up the idea to attract foreign financing for mortgage crediting development in the country, reported the press-centre of IBA.

IBA’s Deputy Board Chairman Emil Mustafayev has reported that the bank continues talks with international financial organizations and funds for financing of mortgage programs.

"They have not yet reached the stage when it is possible to speak of specific results and financing volumes. At the same time the country suffers need for mortgage credit due to demand growth for housing (the population is growing) and supply (housing construction develops). There are just no enough exchange products to interconnect this supply and demand. We think that the role of International Bank of Azerbaijan and other banks is to create such products ",- E. Mustafayev said.

In his words, the bank carries out mortgage crediting at the line of Azerbaijan Mortgage Fund under the Central Bank and its own mortgage program.