From today, no one will be able to take out an online loan in your name

New rules for issuing online consumer loans take effect from October 1.

As reported by BAKU.WS with reference to Oxu.Az, in connection with this, Chairman of the Board of the Central Bank of Azerbaijan Taleh Kazimov signed a decision on April 28, 2026, to amend the "Rules for Credit Risk Management in Banks" and the "Rules for Credit Risk Management in Non-Bank Credit Organizations (NBCOs)."

According to the decision, citizens will be able to apply to a bank or NBCO and set a restriction on the remote processing of consumer loans in their name and on online increases to their credit limit.

The corresponding restriction may be lifted based on a written request submitted by the client in person at the bank, through an enhanced electronic signature, or through enhanced client authentication.

In addition, banks and NBCOs will be required to check whether the client has set such a restriction, both in their own information systems and in the credit bureau system, before issuing a loan.

According to the new rule, after remote processing of a consumer loan, the funds will not be provided immediately. If the loan amount issued or increased during the day is up to two minimum wages, the funds will be provided after 2 hours, and if it exceeds that amount - after 24 hours.

The rules apply to both banks and non-bank credit organizations.