Central credit registry service of Azerbaijan to launch new reporting
Azerbaijan, Baku, October 28 / Trend , N.Ismayilova /
By the end of 2009, the Central Credit Registry Service (CBRS), acting under the Central Bank of Azerbaijan, will begin providing data on the obligation of borrowers, the head of service Elchin Habibov said on Oct. 28.
"By the end of the year, the service will put into operation a new type of reporting, where in addition to lending commitments of borrowers, will also be indicated their obligations as a guarantor," said Habibov.
He said the service had already begun to collect information on the guarantors in local banks.
In addition, the new reporting will reflect the state of execution of current obligations by the borrowers.
The registry will contain information on both active debts and on repaid loans. There will also be information about loans and securities. The information in the registry will be updated once a month, that is, during the first two days of the month. New loans will be sent to the registry within two business days.
As of October 1, the total number of borrowers in the registry was 647,673, and information on loans - 1,121 million.
Official rate on Oct. 28 is 0.8033 AZN/USD
Do you have feedback? Contact our journalist at:firstname.lastname@example.org