According to Aliyev, this step is aimed at providing additional protection against risks, including financial ones, that may arise as a result of fraudulent actions. He noted that in the past there have been cases where loans were issued to individuals who were unable to repay them due to a lack of income.
The self-ban mechanism will be available starting November 1 and will require the use of the Tunduk application for activation. Credit organizations will be obliged to check for the presence of a self-ban when processing a loan. It is important to note that a loan agreement will be considered invalid if it is issued with regard to an existing self-ban.
