One of competencies of Mortgage & Credit Guarantee Fund canceled

The current management of the Azerbaijan Mortgage & Credit Guarantee Fund has abolished one of the powers of the Board of Directors.

banks.az reports that the management signed a decree on amendments to the Charter of the Mortgage & Credit Guarantee Fund of the Republic of Azerbaijan.

According to the changes, Paragraph 5.6.9 in the Charter was canceled. In this paragraph, the responsibilities of the Board of Directors related to the approval of the prospectus on issue of Fund's bonds.