BAKU, Azerbaijan, June 23. A setup of working group on the establishment of a single database reflecting economic indicators within the framework of the Association of Credit Information Providers in Eurasia (ACIPE) has been proposed, Chairman of the ACIPE Board of Directors and Head of the First Credit Bureau of Kazakhstan (FCBK) Ruslan Omarov said at the First International Credit Reporting Conference in Baku today, Trend reports.
He emphasized that if the said single database is created, it can facilitate the determination of results and targets.
"This is not a competition or rating. We simply want to understand where we are now. This is a starting point so that we can then take the right steps and monitor the results.
This is important because we can do something together, but for example, Azerbaijan, Tajikistan, and Kyrgyzstan can take a completely different step. The results may be different. Maybe we took the wrong step and the result was bad, or vice versa, the result improved three times. Therefore, it's necessary to quickly change the strategy, feel the situation and adapt," he explained.
Saying that this is very important, Omarov suggested that such a study be launched in the ACIPE member countries.
"We should collect data and create a working group to form a single database reflecting economic indicators within the framework of ACIPE. Let's seriously deal with this area because we all work with data. It would be better if we lead this area now. Otherwise, later someone from outside could come and do something wrong. Maybe we are not very big in every country, but since we work with data, we should be the leader in this area," Omarov concluded.
“Association of Credit Information Providers in Eurasia” (ACIPE) was inaugurated on October 23, 2018, with the objective of catalyzing the evolution of credit reporting mechanisms across the Eurasian landscape, as these entities are pivotal in enabling consumers and small enterprises to secure financing solutions. The primary focus of engagement is facilitating the exchange of data pertaining to financial instruments and liability commitments, particularly in relation to the dynamic flux of individuals and enterprises across the Eurasian landscape.
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