Monday, March 21 2016 19:50
Alina Hovhannisyan

Central Bank of Armenia warns: Provision of consumer loans in foreign currency by pawnshops is illegal

 Central Bank of Armenia warns: Provision of consumer loans in foreign currency by pawnshops is illegal

ArmInfo. Pawnshops running in Armenia have the right to give short-term consumer loans to borrowers ensured by only moveable property of personal use and exclusively in Armenian dram, press-service of Armenia's Central Bank informs.

Taking into account the abovementioned, the regulator states that provision by pawnshops of consumer loans in foreign currency is illegal and in such cases the bank suggests applying to the Central Bank of Armenia by calling (010) 592 697.