Banks Refuse to Grant Loans to Citizens with Unpaid Fines

The newspaper '168 Hours' reports that in recent times, many citizens have complained that banks are refusing to grant them loans because they have unpaid fines for traffic violations and 'red line' infringements. Even individuals with a clean credit history are being denied loans.

Regarding this issue, a reporter from the newspaper submitted a written inquiry to the Central Bank of Armenia to find out if they have any information on this matter and how they explain the refusal to grant loans to these individuals. In response to the inquiry, the Public Relations Department of the Central Bank stated that, according to their information, banks generally do not take into account unpaid fines related to 'red line' and traffic violations. In cases where they do consider such fines, the significant amount of the fine is prioritized by the banks. 'There may be instances where a client applying for a loan, if they have an unpaid fine, could be viewed by the bank as a citizen with overdue obligations, resulting in a loan rejection. Nonetheless, such cases are rare,' the response reported.

The full article can be read in today's issue of the newspaper.