(Baku Daily) - The central bank of Azerbaijan (CBA) is holding consultations with the Ministry of Finance to increase the funds allocated for mortgages.

CBA chairman Elman Rustamov revealed this at the parliament's plenary meeting during the discussion of the budget package for 2015. Rustamov said that the initial demand for mortgages in Azerbaijan was $6bn.

He said: 'Very serious financial resources are needed to meet the demand. The country has serious financial resources. We [have to] make use of them.'

Rustamov also noted that the bank was considering a German mortgage model.