“Regulations regarding terrible loans are ready and will be approved within next days. Procedures of pay back to citizens and the relations between banks and customers are the issues reflected at those regulations”, the president of the Azerbaijan Banks Associations Zakir Nuriyev to ONA.
“We have not used international experience in these regulations. We will not be wrong, if we call it an Azerbaijani model. This format has not been implemented in any country yet. We consider it to be one of the most successful models”, said Zakir Nuriyev
Zakir Nuriyev also stated that the number of people that have debts to the banks will fundamentally decrease and the new debt restructuring will give customers opportunities to pay their debts in a long term.