The National bank of the Republic of Abkhazia informs commercial banks, economic entities and other interested structures that from November 1, 2009 the Bank of Abkhazia fixes the following refinancing rates on credits extended to commercial banks:
• 12% p.a. on refinancing loans extended for further crediting of economic entities acting on the territory of Abkhazia with margin fixed (no more than 6 points) to the annual rate at final crediting;
• 12% p.a. on credits extended to lending institutions for reinforcement of correspondent accounts.
The rate 12% p.a. is employed by calculation of penny paid to clients by the banks in concordance with the Article 31 of the Law of the Republic of Abkhazia «On banks and banking» for undue and incorrect enrolment (debiting) of funds as well as other cases specified by the legislation.
Period in Effect
refinancing loans: 12 %
reinforcement of correspondent account: 12%
The Ruling of the Governing Board of the Bank of Abkhazia (record ¹105 of October 21, 2009)
from 01.06.2007 to
refinancing loans: 18 %
reinforcement of correspondent account: 24%
The Ruling of the Governing Board of the Bank of Abkhazia (record ¹51 of May 16, 2007)
January 1, 2006 – May 30, 2007
refinancing loans:24 %
reinforcement of correspondent account: 30%
The Ruling of the Governing Board of the Bank of Abkhazia (minutes ¹05 of December 21, 2005)