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Finance Minister Concerned About Interest Rates on Loans by Debt Collection Companies

Published February 13, 2026, 17:21
Finance Minister Concerned About Interest Rates on Loans by Debt Collection Companies

Finance Minister Makis Keravnos expressed concern about the interest rates and compounding interest on loans managed by debt collection companies. The issue is under review, based on data from the Central Bank and through consultations. The Minister acknowledged that interest and compounding create a negative image and available data are being examined to determine if there is an accumulation of debt. Mr. Keravnos referred to a recent meeting with the Financial Commissioner, where interest rate issues were discussed. Regarding the possibility of legislative regulation or the adoption of a scheme such as "rent instead of installment," the Minister stressed that there is nothing specific yet, as caution is required due to international evaluations to which the country is subject. At the same time, the Minister referred to checks carried out on businesses and close cooperation with the police, in relation to statements by the Minister of Justice about crime within businesses. He stressed that the necessary control mechanisms exist and that the government is aware of the issue. The file with the complaint of the MP's partner, which was withdrawn, is with the Legal Service for study and decision-making regarding possible criminal prosecution. The police have completed their investigation and have forwarded the file to the Legal Service.