IFC helps to improve foreclosure system in Azerbaijan
BAKU – IFC, a member of the World Bank Group, helps the Azerbaijani government to substantially improve the property foreclosure by amending the mortgage law. The work is conducted by IFC jointly with the Central Bank of Azerbaijan (CBA).
Proper and efficient foreclosure legislation is crucial for the development of mortgage market. The foreclosure legislation is efficient if it balances the banks’ and the borrowers’ interests.
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