One of the worrying trends observed in the banking sector lately is the calls that banks make to family members or guarantors of debtors due to late loans.
Oku.Az reports that, according to experts, such actions should be considered a serious violation of banking secrecy and customer rights.
about the matter Oku.Azlawyer, specialist in the banking sector who gave a statement before Akram Hasanov He stated that according to the legislation, the bank cannot under any circumstances demand payment of the debt from the debtor’s relatives.
“The loan debt should only be requested directly from the debtor himself. There is a subtle nuance here: if the client has given the bank permission to call his relatives when concluding the loan agreement, if it is impossible to contact him, the bank can contact with the persons indicated by him if he cannot be found. Otherwise, this is considered a violation of banking secrecy and the client can go to court to claim compensation for moral damage.
Azerbaijan already has judicial practice in these cases. By providing credit information to third parties without the customer’s consent, banks are effectively spreading banking secrecy. The debtor’s relatives have the right to object to the bank’s calls and demand that they not be disturbed again. Otherwise, they can also go to court to demand compensation for moral damage.
Therefore, banks should only contact the debtor himself in case of non-payment of the loan, and not bother family members or guarantors. This is important both from the point of view of the requirements of the legislation and of the protection of trust and confidentiality in the relations between the bank and the client,” the lawyer stressed.
Aziza Ismayilova
