TIRANA, June 27 /ATA/ The Bank of Albania and the World Bank have started work on the preparation of the new regulation, for the protection of consumers from banks and non-banks in cases of borrowing.
The Bank of Albania announced that the first draft of this regulation will be made public in September of this year, after consulting it with all institutions, and it is expected to enter into force next year.
According to BoA, some of the measures contained in this regulation target customers from the age of 18 to those with special needs. In addition to the current restrictions on the maximum interest rate and on the maximum penalties, the new regulation will also include customer restrictions, based on financial analysis.
Part of the regulation will be the compilation of a list of clients who will not be able to receive loans. Also, the number of loans that a customer can get will be limited.
The Bank of Albania informed that the restrictions will be imposed based on the analyzes that were made in the case of MCA and Final, where it turned out that the situation has worsened more for those customers who had several loans. Since it is the number of loans that has often led to non-performing loans.
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