17:10 - 22.11.2019

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November 22, Fineko/abc.az. Giving of money in debt through Azpulmat machines has started in some places in Baku.

So, everyone can withdraw money from the machine in the amount of 20 manats, using an ID and a fingerprint, and the number of those wishing to borrow is growing.

But do the new devices belong to any bank or non-bank credit institution (NBCO)?

We have done a google search to get information about Azpulmat, but our search was not successful, so we tried to find out the expert's opinion on the occasion.

Replying the question of ABC.AZ, expert for banks Ekrem Hasanov noted that some countries are using such devices.

"But I don't know how they work. Speech is here about micro loans. Let's start with the legal side of the question: who gives such loans? If someone gives a loan from its own funds, no one can forbid it," the expert said.

He points out that the state can not prohibit individuals to give loans at interests if they pay taxes.

"Therefore, we should first of all establish who owns these machines -individuals or companies? If it is an individual who gives money without raising a loan, there is no problem, since that risk relates to himself. But if this is done by banks and non-bank credit institutions, then this is a problem, since, according to banking legislation, there is a principle of recognition of the client as a whole. That is, in the banking system, you need to know who you are lending to. It is impossible to give a loan to a person presenting only an ID - official documents on the income of the person should be submitted as well. One should not give a loan in such a way, as they risk the money of others," the expert said.

By Elmir Murad