According
to Regulation No.3759, a new procedure for granting online loans was introduced
on April 22 to protect citizens from fraud. Under the new regulations, credit
inquiries sent by a single client to multiple banks simultaneously will be
coordinated through the "KATM" Credit Bureau.
The key
features of the new system include:
The first
inquiry sent will be the first to be reviewed.
If a loan
is granted, the client is restricted from sending new inquiries to other banks
for 24 hours.
If a loan
is rejected, the client may continue applying to other banks.
Each bank
retains the right to independently decide whether to approve or deny a loan.
The primary
objective of this procedure is to prevent multiple loans from being registered
under one person's name within a short period and to safeguard citizens against
online fraud.
The
"KATM" Credit Bureau noted that its information exchange system is
operating normally without any interruptions. However, temporary disruptions in
online loan processing may occur in certain commercial banks as they finalize
the adaptation of their software to the new regulations.
