AZE.US
Azerbaijan is preparing to expand the powers of court enforcement officers as the country updates debt collection procedures for the digital era.
Under amendments discussed in parliament, enforcement measures would no longer be limited to traditional bank accounts.
The proposed changes would also allow authorities to target funds held in electronic wallets and other liquid assets that can be used to satisfy court-ordered debt payments.
Supporters of the proposal say the current system no longer reflects how people store and move money. As financial services become more digital, debtors may hold funds not only in bank deposits, but also in electronic payment tools and other financial instruments.
The planned changes are intended to speed up the enforcement of court decisions, a process that can often drag on for years, and strengthen payment discipline across the financial sector.
If adopted, the new rules would give enforcement officers broader access to information about a debtor’s income, assets and other funds that could be directed toward loan repayment.
Supporters argue that this would make it easier to recover overdue credit payments and reduce the burden of toxic assets on banks.
The proposal comes as Azerbaijan continues to adapt its legal and financial framework to a more digital economy, where an increasing share of personal funds may sit outside the traditional banking system.
AZE.US