Azerbaijan to develop rules for ensuring obligations on bonds of entrepreneurs
Azerbaijan will develop rules to ensure the obligations on bonds of entrepreneurs, Azernews reports.
President of Azerbaijan Ilham Aliyev signed a decree 'On improving the mechanism for providing guarantees for the obligations of entrepreneurs by the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan and amending Decree No. 1691 of the President of the Republic of Azerbaijan on ensuring the activities of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan' dated November 29, 2017.
In keeping with the decree, the Mortgage and Credit Guarantee Fund must within five months approve the procedure for the provision of guarantees by the Fund under the mechanism of securing the loan portfolio regarding loans received by entrepreneurs in manat, as well as obligations on bonds of issuers (entrepreneurs) and inform the President of Azerbaijan about this.
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