Number of appeals to Azerbaijani credit register triples

Business Materials 11 January 2013 13:44 (UTC +04:00)

Azerbaijan, Baku, Jan. 11 / Trend A.Akhundov /

The centralised credit register service under the Central Bank of Azerbaijan (CBA) received 122,812 appeals in November, the CBA said today.

Compared to the same period in 2011, when there were 41,582 such appeals, the number of appeals to the service has tripled.

The register received 122,582 inquiries from the banks in November. About 230 individuals applied to obtain their own credit reporting.

As of late November, there were 1,499,318 borrowers, having information in the credit registry. The total number of credit data is 4,065,375. The number of data on guarantors available in the registry is 529,169.

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 register does not pursue commercial objectives. Tariffs were imposed to cover administrative costs.

The official exchange rate is 0.7848 AZN to $1 on Jan. 11.