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Banks suspend consumer loans in foreign currency for a month

Chamber reserves right to extend this period

Baku. 5 April. REPORT.AZ/ Board of Directors of Financial Market Control Chamber has held next meeting.

Report was told in the press service of the chamber, opening the meeting Chairman of Control Chamber Board of Directors Rufat Aslanli spoke about formation of organizational structure of the Chamber and works carried out.

As a result of extensive discussions, a decision has been adopted for in-depth and comprehensive analysis in the field of consumer loans in foreign currency as well as for determination of new regulatory frameworks within a month in order to provide consumer protection and financial stability.

In this regard, also decided to suspend consumer loans in foreign currency by banks from April 5 for a month and to send relevant instructions to credit institutions. The Chamber reserves right to extend this period. 

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