Number of appeals to credit registry in Azerbaijan increases 1.5 times

Business Materials 28 March 2012 13:46 (UTC +04:00)

Azerbaijan, Baku, March 28 / Trend A.Akhundov /

The service of the centralised credit register under the Central Bank of Azerbaijan (CBA) received 43,804 appeals in January, a report published on the CBA website said on Wednesday.

Compared to the same period in 2010 when there were 28,739 such requests, the number of appeals to the service increased by 1.52 times.

In January this year the same service received 43,702 requests from banks and 102 people requesting a copy of their own credit rating.

As of late January, there were 1,201,258 borrowers, on whom there was information in the credit registry and the total number of credit data was 2,952,422. The data on the number guarantors in the registry shows 424,662.

The service of the centralised credit register began operating in March 2005. For a single inquiry to the registry, the individual rate is 1.1 manat, for a legal person it is two manat. The credit registry does not pursue commercial objectives and tariffs were introduced to cover administrative costs.

The official exchange rate is 0.7862 AZN to $1 on March 28.