Azerbaijan Central Bank to accept movable property as collateral from now on

12:58 - 23.11.2018

November 23, Fineko/abc.az. Azerbaijan has changes the rules of receiving credits of refinancing.

According to the decision published on the website of legal acts, the Central Bank of Azerbaijan (CBA) has changed the rules for obtaining loans for refinancing.

From now on, banks will be able to use movable property as collateral for refinancing loans from the CBA.

According to the new rules, collateral movable property must be entered in the official register. The rules cover loans given for up to 360 days. The loan amount should exceed AZN 20 million. The value of movable property used as collateral must be at least 150% of the loan value.

 

Other news