Azerbaijan decides on credit incentives

The Central Bank of Azerbaijan (CBA) has adopted a decision for credit incentives in the banking sector.

The credit institutions in Azerbaijan will be recommended not to charge fines, penalties, and other payments from the borrower until September 30, 2020, in case of full or partial delay of business and consumer loans (principal or interest). In this case, the credit history of the debtor will not be deteriorated.

During this period, credit institutions will continue to accrue interest on the principal amount and ensure that borrowers make repayment to the lenders.