Bulgarian Banker Proposes Ban On Fast Credit Ads

A Bulgarian banker proposes a ban on the ads for fast credits.

In an interview for a Bulgarian-language daily, the chairperson of the oversight board of Procredit Bank, Petar Slavov, said the ads motivating undue consumption, should be banned. 

“There is no much difference between the cigarette ads and those for fast credits,” Slavov said. “Those ads are harmful to the society.”

According to him, the banks are in debt to society and it was absurd to attract clients with promises of low interest rates, which increase after a certain period. “This does not bring development to the financial sector, neither to economy, nor to society,” Slavov said.