15:31 - 1.10.2018

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October 1, Fineko/abc.az. The Azerbaijani parliamentarians proposed to draft a law on credit risk insurance.

During today's first meeting of the Milli Majlis autumn session MP Ali Masimli stated that there is a need for passing such a law.

"The adoption of such a law will help reduce the tension associated with loans given in foreign currency," Masimli said.

The MP also touched upon the situation with borrowers of loans in foreign currency and proposed amendments to the Law on Bankruptcy. In particular, he proposed to add articles on individuals to the law.

The situation with foreign currency loans became more complicated after the double devaluation that led to a serious stir and discontent of such loan borrowers. Although the issue has been repeatedly raised by the MPs, banks only extended the term of payment of loans, but did not transfer them into the national currency. A lot of materials have been sent to law courts.