Azerbaijan, Baku, June 28 / Trend A.Hasanov /
On July 5, the first round table will be held with potential shareholders of the first credit bureau in Azerbaijan, during which signing of a memorandum of intention is expected, IFC project cordinator to strengthen the financial infrastructure in Central Asia and Azerbaijan on the country Teymur Heybatov told Trend on Thursday.
"The International Finance Corporation (IFC) is not going to participate as a shareholder in bureau, but does the participation of other international financial institutions is not ruled out," Heybatov said.
It's planned to get involved an international technical partner, the choice of which will be implemented on a tender basis. "It can bring its own software for the credit bureaus and manage the company," Heybatov said.
It is estimated that the creation of a credit bureau will require $ 2 - 2.5 million, but the final amount will depend on the cost of the software.
"The company - supplier of the software will also be a shareholder of a credit bureau, so the cost of its creation will not be fully met by other shareholders, but the local shareholders will be included in the bureau with equal stakes," Heybatov said.
Since 2005, a centralized credit registry has already operated under the Central Bank of Azerbaijan. Heybatov said that unlike the credit registry, which today forms the credit history of customers of banks and non-banking credit organizations, the Bureau will collect information from all possible creditors.
"It may be leasing companies, stores that give household appliances through loans, in addition, the credit bureau can be given information about the utilities and telecommunications debts and other information," Heybatov said.
In his view, it is still too early to say the timing of the start of the credit bureau because it depends on many factors. In the first place a law should be passed regulating the activities of private credit bureaus in the country, which the Central Bank shall send to the interagency coordination that takes at least a month, and then to the parliament.
The following scheme of work is proposed: private credit bureau will receive the data from the registry and then transfer it to financial institutions applying with a request. Also, the Bureau will independently collect data from the utilities, telecommunications, leasing companies, and possibly financial institutions to expand the scope of coverage analysis. Data processing in the bureau will be online.
Today, the CBA offers three pricing models - an annual fee from the Bureau to the Centralised Credit Register Service, the fee for each appeal and one-time fee for the license.
It is expected that at the initial stage the private credit bureau will have five shareholders.