Банкеръ Weekly



The Parliamentary group of the National Movement Simeon II (NMSII) started fulfilling its pre-election promises for legislative amendments, aimed to alleviate bank crediting. The proposal of the Commercial Banks Association (CBA) for cancellation of Article 220, paragraph 3 of the Criminal Code has already entered the parliamentary Law Commission. It reads that if a person has been launched unguaranteed credit and it has not been repaid, then the person will be imposed imprisonment for a period between one and ten years. According to bankers if this article is removed, then the credit institutions will find it much easier to launch credits.Till end of the year CBA will also submit the offer no taxes to be paid by banks on provisions for unserviced credits.All the requirements for the above amendments have been discussed on September 17, 2001, between CBA's management and the Deputy Chairman of the National Assembly Kamelia Kassabova, the Chairman of the parliamentary Budget and Finance Commission Ivan Iskrov and by representatives of the parliamentary Economic Commission.Bankers have been insisting on such alleviating crediting amendments for quite a long period of time. Still at end of 2000 the former prime minister Peter Jotev promised that their proposals would be discussed by the 38 National Assembly. Alas, neither of them enetered the Parliament.CBA pinpoints amendments of the Civil Proceedings Code as most urgent. They should simplify and speed up cashing proceedings concerning the movable and immovable property used by debtors as guarantee. Representatives of the Association insist on doing away with the requirement depositors to grant permanent and unavoidable bank guarantees to customs which is still being regulated by the Excise Duty Act.

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