Azerbaijan's Central Bank talks solid government program on credit support for virus-hit areas 

  29 April 2020    Read: 1073
 Azerbaijan

There is a solid government program on credit support for areas that suffered from coronavirus pandemic, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said in an interview to the Azerbaijan Television and Radio Broadcasting Company (AzTV).

He noted that CBA, according to the government program, allows banks to restructure loans until September 30.

“The banks were given recommendations on extending the loan repayment term. Such loans are no longer considered problematic by CBA. The main thing is that fines or sanctions are not applied to the population on these loans. As is known, every citizen or legal person has a credit history. When a person once again takes a loan, this story plays a significant role,” said Rustamov.

"We recommended the banks not to worsen the credit history of individuals since the terms of repayments for these loans are extended for reasons beyond their control," the chairman added.

 

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More about: CBA   Elman-Rustamov