Azerbaijan Mortgage Fund under the Central Bank of the Republic of Azerbaijan was established by the Decree of the President of the Republic of Azerbaijan in September 16, 2005 and carries important role in launching reliable housing finance system in Azerbaijan. Among main functions of AMF are to improve living condition of population, build the efficient housing finance mechanism, adapt the supply with real demand and attract local and foreign investors to mortgage lending. AMF is the first mortgage refinancing institution in the South Caucasus and since its foundation as of 01.01.2011 more than 6000 Azeri citizens (around 24 000 families) have been benefiting with mortgage loans originated by the agent banks amounting to almost $300 millions.
AMF entered local capital markets with covered and regular bonds and in 2009-2010 attracted $150 mln. In November 2010 Fitch upgraded AMF’s long-term foreign and local currency ratings to 'BBB-'.
For the 2011 AMF will continue its efforts to develop secondary mortgage market, improve primary market and institutional capacity building and development.