It is unacceptable for banks to practice usury and profit from the difficult economic situation of BiH citizens

Due to loans in Swiss francs, about 10,000 families in our country are in debt bondage, and this fact has prompted the Social Democratic Party of BiH (SDP BiH) to submit the Law on Conversion of Loans in Swiss Francs to the procedure.

The law was submitted to the parliamentary procedure on February 9, but to date, the FBiH Government has not commented on this Bill, it was stated at today's press conference, where this proposal was officially presented, reports the BiH news agency Patria.

- Citizens have largely repaid both the principal and the interest to date, but they are still indebted to the banks. They are even at risk of losing property they have already paid off. This is an unjust and unfair system, and the state must react and protect its citizens. It is unacceptable for banks to practice usury and profit from the difficult economic situation of BiH citizens and to make excess profits, in addition to the basic profit they certainly have - said Irfan Čengić, Secretary General of SDP BiH.

This legal solution will enable citizens to convert loans taken in francs into loans in convertible marks. It was emphasized that EU member states, such as Croatia and Hungary, have already implemented these solutions, and SDP is now offering a legal solution to BiH citizens.

- The FBiH Parliament should protect the interests of citizens. The shameful way our citizens were robbed - by paying the principal in convertible marks, and the repayment being tied to the Swiss franc, so with the growth of the franc, the installments and annuities increased. This is contrary to the Law on Obligations. If Croatia could protect its citizens by law, we see no reason why our country should not do so either - explained Elvir Karajbić, head of the SDP caucus in the House of Representatives of the FBiH Parliament, who invited all those who believe that certain provisions of this law can be improved to do so in the amendment phase.

- We will accept all provisions that are not detrimental to loan beneficiaries. We also call on the FBiH Government and all representatives in Parliament to side with the citizens of FBiH, not with certain monopolists. The vote on the adoption of this law will be a major test for all parliamentary parties, and it will clearly show which parties are on the side of the citizens and which are on the side of the banks. With this Bill, SDP has made it clear that it works in the interest of the citizens - added Karajbić.