National mortgage company’s authorized capital may grow

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Economy

04.11.2009, 02:28

Armenian Central Bank chairman Arthur Javadian said today the National Mortgage Company’s capital may grow as the company unfolds its activity extending new mortgage loans.

YEREVAN, November 3, /ARKA/. Armenian Central Bank chairman Arthur Javadian said today the National Mortgage Company’s capital may grow as the company unfolds its activity extending new mortgage loans.

In an interview with ARKA news agency, Arthur Javadian said the National Mortgage Company’s authorized capital is 5 billion Drams now. He said the government may cut its participation in the company to give more room to private companies. He said the National Mortgage Company’s long-term activity is based on ‘private public partnership’ and in line with this principle the government may cut its participation and give more chances to private sector.

The universal National Mortgage Company was started on July 13, 2009. Its primary authorized capital was 5 billion Drams. ($1 – 386.41 Drams). -0-

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