First-instance court rejects Duraković's lawsuit to repay loan at exchange rate on the day of disbursement

The Municipal Court in Mostar has issued a ruling on the lawsuit filed by Kemal Duraković, president of UKK Švicarac, rejecting Duraković's request to repay the loan at the exchange rate on the day of loan disbursement thus confirming the legality of the currency clause in CHF, writes the Bosnian news agency Patria. 

Duraković, who took out a loan in 2006 - then worth 503,000 KM - sought the return of 70,000 KM based on exchange rate differences, and the court rejected this as unfounded. In the second part of the lawsuit, Duraković sued the bank for changing interest rates, and his compensation claim on this basis in the amount of 30,000 KM was accepted. 

The ruling is first-instance, and it is likely that both the bank and Duraković will appeal it, and the process will continue in the second-instance court.