In order to develop consumer credit in the Republic of Abkhazia, from June 27, 2016, the Bank of Abkhazia offers specialised refinancing credit to credit institutions. The recipients of credit funds are individuals, citizens of the Republic of Abkhazia, who receive salaries, pensions and other types of payments on their “APRA” bank cards.
By October 15, 2016, credit in the amount of 70 million rubles was received by more than 2000 people.
Taking into account the demand for this type of credit, the Bank of Abkhazia has made a decision to allocate 300 million rubles to credit individuals who receive their salaries, pensions and other types of payments on their “APRA” bank cards.
A holder of an “APRA” bank card has a right to obtain credit in the lending bank, on the condition that his salary, pension or other types of payments are received on his “APRA” bank card. The maximum sum of the credit should not exceed 6 months’ worth of income (salary, pension, other types of income to the bank card for 6 months). The term loan agreement should not exceed 12 months.
The repayment of credit is taking place through monthly retention of 50% of the salary, pension or other types of payments to the “APRA” bank card.
Today, only individuals who are customers of 2 credit institutions of the Republic – Sberbank of Abkhazia and “Sukhum-bank” – may use this type of credit.
The Bank of Abkhazia hopes that other credit institutions of the Republic will include consumer credit in their line of credit products.