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Azerbaijan can establish credit guarantee fund
Finance
- 31 May, 2017
- 08:48
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Baku. 31 May. REPORT.AZ/ Azerbaijan needs a law aimed at protection of creditors rights.
Report informs, Chairman of Azerbaijan Banks Association (ABA) Zakir Nuriyev told reporters.
Moreover, according to him, a credit guarantee fund for bank loans also must be created in the country: “This fund should take part of responsibility for annual interest rates of loans. Currently, banks attract AZN deposits with 15% annual rate. The self-cost of loans, taking into account risks, makes 24-25%. It is hard to release loans for small and medium size enterprises with such a high rate, that’s why we need a guarantee fund”.
Author
Azərbaycanda kreditlərə zəmanət fondunun yaradılması təklif olunur
В Азербайджане предлагается создать гарантийный фонд по кредитам
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