Regulatory Alerts2023-10-31
Notification Template on a Consumer Loan Agreement
The Central Bank of the Republic of Azerbaijan issued Resolution №38/2 to standardize consumer loan disclosures through a mandatory notification template. This template requires lenders to clearly present critical financial terms, including the effective annual interest rate, repayment schedules, cost breakdowns, and delinquency limits. It also codifies consumer protections regarding loan withdrawal, premature repayment compensation caps, and accessible dispute resolution channels.
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