Every day, enough people apply to banks to take out loans. Among them are retirees and people from vulnerable groups. In many countries around the world, concessional loans are possible for people from vulnerable groups.
So, is it possible to implement these mechanisms in our country?
According to Milli.Az, economist Khalid Kerimli stated that there is no concession envisaged in the loans given to citizens by commercial banks in the country:
"In this regard, any change in the terms of the contract, granting concessions, or restructuring the payment terms may exist at the bank's discretion."
The expert noted that the application of concessions depends on the bank's internal regulations. There is no legislation to force the bank in this regard.
According to MP Vugar Bayramov, the absence of concessions on loans and improper assessment of repayment capability occasionally leads to an increase in problematic loans.
