Mortgage and Credit Guarantee Fund will act with 466 mln AZN authorized capital

Baku. 26 December. REPORT.AZ/ The authorized capital of non-commercial legal entity Mortgage and Credit Guarantee Fund established with a decree of  the President of Azerbaijan Ilham Aliyev, will amount 466 mln AZN.

Report informs, says the charter of the Fund. 

The document reads that the increase and decrease of this amount will be carried out in accordance with Civil Code. 

The money of the fund in local currency is kept in the banking account opened at the Central Bank of Azerbaijan (CBA). 

The Fund performs its duties towards its state properties in accordance with a decree signed by the head of the state on June 6, 2007. 

If the Fund is liquidated, the properties remaining after paying off its debts are transferred to state budget.