Number of appeals to Azerbaijani credit register almost doubles

Business Materials 7 September 2012 17:21 (UTC +04:00)

Azerbaijan, Baku, Sept. 7 / Trend A.Akhundov /

The centralised credit register service under the Central Bank of Azerbaijan (CBA) received 87,448 appeals in July, the CBA said on Friday.

Compared to the same period in 2011, when there were 45,468 such appeals, the number of appeals to the service has increased by 92.33 percent.

The register received 87,311 inquiries from the banks in July. About 137 customers applied to obtain their own credit reporting.

As of late July, there were 1,355,346 borrowers, having information in the credit registry. The total number of credit data is 3,550,477. The number of data on guarantors available in the registry is 489,148.

The centralised credit register service began operating since March 2005. The tariff for a single query on an individual is 1.1 manat, a legal entity - two manat. Credit registry does not pursue commercial objectives. Tariffs were imposed to cover administrative costs.

The official exchange rate is 0.7852 AZN to $1 on Sept. 7.