BAKU, Azerbaijan, August 1. New penalties have been introduced in Azerbaijan for individuals engaged in credit sales of goods, Trend reports.
In this regard, President of the Republic of Azerbaijan Ilham Aliyev approved the law "On amending the Code of Administrative Offenses.
According to the law, if a credit bureau receives incomplete, inaccurate, or late information from a consumer or fails to provide information about a consumer's credit history as required by Article 12.1 of the law of the Republic of Azerbaijan "On Credit Bureaus," the responsible party may be fined between 1,500 manats ($882) and 2,000 manats ($1,176), and legal entities may be fined between these amounts.