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National Bank: New Regulations will not Take Effect on November 1

New regulations proposed by the National Bank of Georgia (NBG) will not take effect on November 1, the NBG officials told BM.GE.

At this stage, the central bank is discussing technical details to determine the new date for enforcing the new instructions on retail crediting. At the same time, the NBG confirms that the new regulations will be simplified.

We remind you that the NBG planned to enforce new regulations on November 1 and introduce new crediting restrictions:

1. 15-year limit on mortgage loans
2. 10-yearl limit on consumer loans secured by real estate
3. 6-year limit on autoloans
4. 4-year limit on all other types of loans.