Central Bank limited commission fees on bank lending

Baku. 30 June. REPORT.AZ/ Central Bank of Azerbaijan (CBAR) has instructed commercial banks to limit the commission fees of loans up to 1%.

As Report was told in the banking circles, decision comes into force from today and applies to all banks and banking organizations giving consumer loans.

According to the information, as a result of the decision of CBAR, many banks have temporarily suspended the issuance of consumer loans, as well, governances of banks are helding meetings to regulate the activities in the near future.

In recent months the commission fees for loans at the majority of commercial banks based in Azerbaijan made 3-7%.