Regulations on issuance of loans to physical persons to be activated no later than November 15
Regulations on issuance of loans to physical persons to be activated no later than November 15

The new regulations about issuance of loans to physical persons will be activated no later than November 15 – reads the statement of National Bank of Georgia (NBG).

According to NBG, active consultations continued during the last week with representatives of the financial sector and experts, and talks were still ongoing regarding finalization of certain articles and technical issues.

“The purpose of the regulations is to ensure the stable and sustainable functioning of the Georgian financial system, promotion of healthy crediting and protection of borrowers from non-proportional financial risks,” reads the statement of NBG.

The new bank regulations, which were planned to become activated, starting November 1, have been adjourned, NBG told First Channel earlier today. The new regulations mainly concern the rule of issuance of loans to physical persons (mortgage, consumer credits, etc).

 

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