Opposition party calls for re-registration of USD loans as loans in Armenian currency
04.02.2015,
18:22
An Armenian opposition party – the Country of Law- is going to introduce a bill on re-registration of USD consumer loans as loans in the national currency.
YEREVAN, February 4. / ARKA /. An Armenian opposition party – the Country of Law- is going to introduce a bill on re-registration of USD consumer loans as loans in the national currency.
The secretary of its parliamentary faction, Mher Shahgeldyan, told reporters today that the bill will be submitted to the parliament in the near future. He said if passed it would save thousands of fellow citizens from becoming insolvent.
He said the banks must do so as part of their corporate social responsibility, 'because it is a global trend today.'
He said the bill had been discussed with experts who described it as positive, but no discussions were held yet with the banks.
"We're going to take into account the Russian experience as well, and also similar bills originated by parliaments Latin America and Central Europe, ' he added.
By the end of December 2014, the aggregate amount of Armenian banks' lending stood at a little over 2 trillion drams, of which the equivalent of about 1.4 billion drams were loans in US dollars. ($ 1-476,64 drams). -0-
