NBCOs join credit registry in Azerbaijan
Azerbaijan, Baku, March 2 / Trend I.Khalilova /
Non-bank credit organizations (NBCOs) will join the Central Credit Registry under the Central Bank of Azerbaijan (CBA) in accordance with the amendments to the rules about the central credit registry, the CBA said.
According to the rules, NBCOs must submit the information about the total loan portfolio and new loans given for the two last working days for the first four days of each month.
The workshop was held at the Central Bank.
"The appropriate technical platform has been created to test data in real time. After testing the data of NBCOs on this platform, they will be able to connect to the main base of the credit registry," CBA said.
The Central Credit Registry Service (CCR) was established in March 2005.
The registry contains information about current credits given by the banks, irrespective of the sum.
After NBCOs join the credit registry, it will be possible to obtain a credit report about all the obligations of borrowers, both in banks and NBCOs.
In accordance with the legislation, the banks, NBCOs and borrowers may have the access to this data.
For a single query to the registry on an individual fee are 1.1 manat, and for a legal person,two manat. The credit register is not pursuing commercial objectives and tariffs imposed to cover administrative costs.
The Central Credit Registry at the Azerbaijani Central Bank as a result of 2010 received 257,045 requests from 42 banks in the country, the service said. Some 219,269 appeals were received from new borrowers.
The total number of appeals to the registry has increased 3.45 times compared to the similar period of 2009. During 2009, the total number of appeals was 74,393. During 2010 period, 298 people applied to the registry to get own credit reports.
As of Jan.1, 2011, the number of borrowers that are available in the registry is 962,546. The total number of credit information is 1,883,260. As of late 2009, the registry collected data on 704,275 sureties and 1,322,524 credit information. Some 258,571 new data were registered on borrowers and 560,736 on the loans during 2010. The number of data on sureties that are available in the registry is 434,593.
The official exchange rate is 0,7939 manat to $1.