The law on the conversion of loans from Swiss francs (CHF) to euros, on which an annual interest rate of 8,2 percent will be calculated, entered into force today.
Hypo Alpe Adria Bank (HAAB), the only one in Montenegro that approved such loans, should, within the next 30 days, perform the conversion of loans approved in Swiss francs at the official exchange rate that was valid on the day the contract was concluded.
This obligation also applies to loans canceled by the bank, because the clients did not pay the installments on time. The basis for conversion is the amount that the client received in the bank at the time of concluding the contract.
The law stipulates that after converting the loan into euros, the bank will perform a new calculation with a fixed interest rate of 8,2 percent on an annual basis. The bank must offer this calculation to loan users within the next 45 days.
The law on the conversion of loans in Swiss francs (CHF) to euros, submitted by the deputies of the Democratic Front (DF), was adopted by the Parliament at the end of July.
The law, which was proposed in February by DF MPs Nebojša Medojević, Andrija Mandić and Milan Knežević, stipulates that the entire burden of exchange rate differences is recorded and that amount is shared by the loan beneficiary, the bank as the lender and the state.
In that case, HAAB and the state should each write off 33 percent of the exchange rate differences, and 34 percent of the loan beneficiary.
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