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Armenian parliament extends the limit of consumer credits

08.05.2019 18:17

Armenian parliament extends the limit of consumer credits

YEREVAN, May 8. /ARKA/. Armenian parliament has approved today in the first reading a bill on amending the Law on Consumer Lending, proposed by the Bright Armenia faction.

Maneh Tandilyan, an MP from the faction, said consumer credits in Armenia are the credits which range from 100 thousand drams to 10 million drams. She said citizens taking loans in this range are protected by law since the contract must specify the effective interest rate.

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