In recent years, the number of Azerbaijanis working abroad has increased. Most of our citizens working in countries like Türkiye and Russia want to buy property or cars in their home country. But can citizens with official income abroad apply for loans from Azerbaijani banks?
Oku.Az reports that there were discussions about this on social media.
On the topic Oku.AzBanking sector specialist and lawyer talking to Akram Hasanov He said that in the legislation there are no restrictions on obtaining loans for citizens working abroad. The main condition is to confirm income with official documents.
According to the expert, some banks may refuse to grant a loan considering that the foreign workplace is a risk factor.
“Because it is difficult to request funds from a foreign company if there is no payment. But in general the law recognizes the right of credit to citizens who document income obtained abroad,” the expert emphasized.
We learned about the approach of several banks on the subject.
Oku.AzBank representatives who responded to the survey stated that they are not very interested in providing loans to people who have income abroad.
According to them, many risk factors appear at this time and no bank wants to create additional problems for itself. However, they noted that some banks can offer loans to reliable clients working abroad, showing an individual approach.
Thus, although the law recognizes the right to credit for citizens who document income obtained abroad, the attitude of banks towards this issue is different. In each case, an individual investigation of the client is carried out and a decision is made.
Aziza Ismayilova
