13:19 - 2.10.2017

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The plenary session of Milli Majlis began today with statements of MPs about importance to solve the problem of bad loans in the country.

MP and member of member of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship Ali Masimli has stated that Azerbaijan should revise the legislation to address issues with problem loans.

"Nowhere in the world citizens are imprisoned for loan debts and therefore Azerbaijan should pass a law to allow solution of such problems through legislation. We know that non-performing loans have formed in Azerbaijan for already a year. Their return is hardly possible, and so it is necessary to accelerate the enactment of relevant legislation to resolve this matter," the MP said.

He added that every fourth citizen in Azerbaijan has a bank loan.