Chamber: Restructuring of loans under ban coverage

The ban applies to all types of consumer loans

Baku. 9 April. REPORT.AZ/ Chamber of Financial Markets Control has released an additional information on suspension of consumer lending in foreign currency.

Report informs the information says that the ban applies to all types of consumer loans. All types of consumer loans include credit cards, car loans, fully or partially secured credits and etc.: "Restructuring of this kind of loans (contractual arrangements and issuance of a new liability) is under coverage of the ban."

Notably, in accordance with the decision dated April 5, 2016 of the meeting of Board of Directors of the Chamber of Financial Markets Control of the Republic of Azerbaijan, giving of consumer loans in foreign currency by all credit institutions based in Azerbaijan has been suspended for a month.

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