Press release issued by the Closed Joint-Stock Company (CJSC) Spitamen Bank notes that jointly with Real Estate Development Company Avicenna Spitamen Bank announces the beginning of the Share – "A mortgage only 12%".

Spitamen Bank jointly with the Avicenna Real Estate Development Company grants an opportunity to purchase own housing in one of elite new buildings of the Avicenna Company, on mortgage only 12% per annum.  Moreover, the first four months the interest rate for this credit is equal to 0%, according to the press release, noting that today such conditions of mortgage in the lending market of Tajikistan are available only in their bank.

"The necessity of provision available conditions on mortgage lending is caused by desire of  Spitamen Bank:  first of all, to make mortgage lending available to a general population, secondly, to promote development of a construction, and thirdly, to develop effective cooperation between Spitamen Bank and representatives of business structures" – noted  The First Deputy Chairman – Umedjon Hikmatov.

To obtain the credit it is necessary to address to Avicenna Real Estate Development Company and to choose the apartment with the consultant.  Then, having brought the first fee in the amount of 30% of apartment cost, the consultant accompanies the client in the nearest branch of Spitamen Bank where the mortgage will be arranged. If the client already paid a part of cost of the apartment and wishes to obtain the credit for payment of the rest of cost he needs to address to branches of CJSC Spitamen Bank where our specialists will consult and will help to prepare all necessary papers.

The share "Mortgage only 12%" extends only to new buildings of the Avicenna Company, from December 27, 2016 to March 31, 2017.

Closed Joint-Stock Company (CJSC) Spitamen Bank started its activity as Microcredit Deposit Organization (MDO) Spitamen Capital in 2008 leading to a banking license from the National Bank of Tajikistan by 2014. The company holds the license for banking operations in both local and foreign currency.  

In 2013, at Frankfurt, the Closed Joint-Stock Microcredit Deposit Organization, Spitamen Capital, was named the winner of the BID International Arch of Europe Award; an award presented to organizations focusing on a high standard of quality.