According to him, these instructions have been given for correctly management of risks in the banks and insurance of citizens applying for credits from unnecessary loans: “This is a measure conforming to interests of both sides. We recommended banks to give loans as more reasonably”.
Babayev noted that consumer lending increases in the country: “Therefore, we decided to protect both banks and citizens from unnecessary risks”.
He also clarified dissatisfactions too: “We work to prevent risks. These are regulation measures to prevent risks in the future and will have positive results”.
Regarding instructions to commercial banks about car lending, Babayev said this is also included in those measures: “As the Central Bank, we think it’s needed certain improvement works in this direction. Concrete information will be released soon. At the same time, car market also needs regulation”.
Babayev says soft loan conditions cause negative results: “Therefore, these measures will be useful for both banks and citizens”.
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