15:53 - 31.01.2020

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January 31, Fineko/abc.az. Azerbaijan intends to apply a restriction on consumer loans with the purpose to increase lending and regulate bank risks.

ABC.AZ reports that the statement was made by Central Bank’s chairman Elman Rustamov at a press conference on the announcement of the parameters of the interest rate corridor.

Recalling the words of the country’s president, the chief banker stressed that the head of state also gave instructions to stimulate business loans in the country.

He added that this cannot be done by the Central Bank's tasks to other banks: "Banks are a commercial enterprise, we cannot give them instructions. This requires macroeconomic and structural incentives. The country will introduce restrictions on consumer loans. I’m concerned about the next increase in consumer loans, and we’ll probably make changes in the matter of regulation in order to reduce the debt burden of the population, as well as to regulate better the risks of banks."

By Elmir Murad