A group of MPs has proposed a bill to regulate the guarantees required by banks when granting loans.
According to Mosaique FM, the authors of the bill claim that these guarantees often exceed 150% of the loan amount, including capital and interest, which places a significant burden on borrowers, particularly small and medium-sized businesses.
The parliamentary initiative aims to strike a balance between the interests of financial institutions and borrowers while ensuring the sustainability of the banking system and promoting economic growth.
The bill stipulates that banks will not be able to demand guarantees exceeding 100% of the borrowed amount, excluding interest and commission, unless there is exceptional, documented and clearly justified cause.
The bill also imposes an obligation to provide information: lending institutions must give borrowers full details of the requested guarantees, how they are assessed, and the cost of their assessment and registration in writing.
In the case of property collateral, the cost of valuation, registration and mortgaging must not exceed 1% of the loan amount.
