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NBG Bans Advertising Pension-Secured Loans

საპენსიო სააგენტო

By the decision of the National Bank of Georgia, advertising of loans secured by pensions is banned without the individual consent of pensioners. In addition, the said change will apply to those pensioners whose sole income is pension and/or other state social allowance.

By the new decision of the NBG, commercial banks will not be able to advertise pension-secured loans, i.e. share content that would offer a loan to customers on the basis of pension or other social payments.

The purpose of the change is protecting the so-called vulnerable groups from uninformed decision-making and debt burden. This will support the formation of an environment favorable to consumers and introduce a high standard of protecting their rights.