FIDES UNIVERSAL CREDIT ORGANIZATION TO DEVELOP MORTGAGE MARKET IN NAGORNY KARABAKH

ArmInfo
09.02.2010

The newly established state Universal Credit Organization Fides that
was licensed by the Armenian Central Bank in August 2009 is expected to
launch refinancing of mortgage loans in the Nagorny Karabakh Republic.

Fides Executive Officer Vardan Avetisyan told ArmInfo the first credit
agreement on refinancing will be approved within February 2010. At
present the company is developing the legislative base for activity
in the NKR.