Agreement between Rama and Sejko: Loan payments are postponed until May 31

0
308

Prime Minister Edi Rama and Governor Gent Sejko have signed the Order to postpone the payment of loan installments for businesses and individuals until 31.05.2020 for all those borrowers who have faced difficulties in this period as a result of COVID- 19.

According to the order, Borrowers must communicate with lenders (banks, non-bank financial institutions or savings and loan associations) arguing with the latter the reasons for their need to defer payment of installments. Lending institutions will process any request submitted to them within 3 days from the date of receipt of the request.

The order states:

Pursuant to and for the implementation of Article 102, point 3 of the Constitution of the Republic of Albania; law no. 9000, dated 30.01.2003 "On the organization and functioning of the Council of Ministers": law no. 8269, dated 23.12.1997 “On the Bank of Albania”, amended, article 12, letter “a”, article 53, point 4; Statute of the Bank of Albania approved by the decision of the Supervisory Council of the Bank of Albania no. 90, dated 2.12.2015, article 11, point 6; The Prime Minister of Albania and the Governor of the Bank of Albania order:

  • To extend the deadline for payment of loan installments for businesses and individuals until 31.05.2020 for all those borrowers who have faced difficulties in this period as a result of COVID-19;
  • Borrowers should communicate with lenders (banks, non-bank financial institutions or savings and loan associations) arguing with the latter the reasons for their need to defer payment of installments;
  • Lending institutions will process any request submitted to them within 3 days from the date of receipt of the request;
  • All licensed lending institutions are charged with the implementation of this order

Reply

Please write your comment!
Please enter your name here