17:49 - 6.02.2025

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February 6, Fineko/abc.az. Amendments have been made to the Procedure for securing loans received by entrepreneurs in manats.

ABC.AZ reports that President Ilham Aliyev signed a decree on the occasion.

According to the rule, the guarantee is provided for the obligations of an entrepreneur operating in the non-oil sector who has applied for a loan order from an authorized bank in order to finance business activities in the territory of Azerbaijan.

The change relates to situations where no warranty is provided. According to the rule in force so far, a guarantee is not provided if there is a delay in loan obligations of more than 60 days (with the exception of obligations for which the borrower is a guarantor) on the date of the loan order or the date of issue of the guarantee based on the credit report, or if there is a loan debt that has received the status of an invalid loan during the last year.

According to the amendment, the credit report will not be guaranteed if the borrower is overdue on loan obligations for more than 30 days before the date of the loan order or the date of the guarantee, or if the borrower has a loan debt that has received the status of a non-performing loan during the last year. The exclusion of obligations for which the borrower is a guarantor is also excluded from this paragraph.