President Signs Legislation Reforming Debt Repayment Priorities and Microloan Limits. Law No. ZRU-914, signed by the President on February 27, 2024, introduces significant amendments to various legislative acts to strengthen borrower rights and foster financial inclusivity. One key amendment to the Civil Code prioritises principal debt repayment over other obligations, ensuring borrowers—individuals and businesses—receive fair treatment. Furthermore, the law mandates the suspension of interest and penalty accruals upon a court decision to collect debt on loans.
by Rohin Pujari
