12:39 - 23.10.2023

---

October 23, Fineko/abc.az. When receiving a loan from a bank, the property assessment will be carried out more carefully.

ABC.AZ reports that the new Draft Law on Appraisal Activity will allow citizens to take loans from banks for larger amounts by mortgaging the According to MP Vugar Bayramov, the new bill will allow for the assessment of property on the basis of more accurate, measurable and understandable criteria.

Expert economist Khalid Kerimli also believes that the new bill will allow citizens to take out loans for a higher amount. This will greatly facilitate work of entrepreneurs and those who work in the field of business.

MP Bayramov says that after adoption of the new law, along with expansion of opportunities for obtaining loans from banks, interest rates are expected to decrease.

The bill was adopted in the 1st reading at the plenary session of the Parliament. This law defines the general principles of property valuation activities, as well as regulates organizational, economic and legal relations arising in this regard.