Armenian regulator calls on commercial banks to apply individual approach to borrowers because of coronavirus

16.03.2020 16:47
Armenian regulator calls on commercial banks to apply individual approach to borrowers because of coronavirus

YEREVAN, March 16. /ARKA/. The Central Bank of Armenia has clarified the situation on loan repayments amid the risk of the spread of coronavirus. The regulator says in its statement that all citizens who in the current situation due to various insurmountable problems as a result of circumstances beyond their control will encounter the problem of repaying their loan obligations in accordance with their contractual obligations can apply to their banks.

The Central Bank of Armenia called on commercial banks, taking into account the current situation, to apply an individual approach to the loan obligations of borrowers, especially those borrowers who have businesses in the hotel, restaurant, transport, and entertainment sectors. In addition, the central bank recommends being in touch and conducting all work on the basis of mutual agreement, in order to avoid undesirable results.

"We again recommend establishing contact between banks and borrowers, and for other matters of interest, contact the Central Bank of Armenia hotline at tel. 011 561954, 011 563950, 010 592697," the statement says.

According to the latest reports, as of March 16, there were 30 confirmed cases of coronavirus in Armenia. About 300 people were isolated. The first case of coronavirus infection in Armenia was confirmed on March 1, the infected man has already recovered. Among those infected were Armenian citizens from Iran and Italy (residents of Yerevan, Echmiadzin and Meghri), people in contact with them, as well as one Italian citizen and a visitor from France. The vast majority of those infected, including one schoolchild, are residents of Echmiadzin. -0-


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