North London rivals Tottenham are currently enjoying the success of Emmanuel Adebayor's loan move from Manchester City, with the 27-year-old's nine goals so far this season helping the club to third place in the table.
The Togolese striker was not able to feature against his parent club in Sunday's 3-2 defeat, a rule Wenger believes should be changed, but the Frenchman also insists that player's over the age of 21 should not be allowed to go out on loan.
“Personally, I would not ban players on loan from playing against their own clubs,” Wenger told reporters.
“What I would like to see in the Premier League is that you are not allowed to loan players over the age of 21.
"At the moment it is an opportunity for some clubs to reinforce other teams, without losing ownership of the player.
“For example, if a big club sends a big player to another club in the Premier League on loan, they only have benefits.
“That player cannot face his own club, yet he could win games against their rivals.
“Therefore, I think it would be better if players over 21 didn’t go on loan in the top league.”
Wenger opted for a loan deal for Chelsea midfielder Yossi Benayoun in the summer transfer window, with the 31-year-old one of a number of deadline day arrivals, yet the 62-year-old defended the move.
“It’s true that I haven’t done that often," he continued.
“But we were on the last day of the transfer window. We knew that Jack Wilshere would need surgery.
“So we were short in midfield at that point and to find two players so late was nearly impossible for us without using a loan.
“At that time, the most important thing was just to sign him.”