Baku, Azerbaijan, Oct. 9
By Anvar Mammadov – Trend:
Legal registration of the first private credit bureau in Azerbaijan is being delayed, Elchin Ahmadov, CEO of CreditInfo Azerbaijan, told Trend Oct. 9.
According to him, the delay is related to the ongoing preparation of documents and a number of technical issues that need to be addressed.
“We [CreditInfo] have prepared all the documents. We are waiting for final connection of all the founding banks to the bureau, as well as the regulator’s decisions on a number of technical issues,” added Ahmadov.
The bureau plans to register in October and start operations by end 2017.
The list of the credit bureau’s founders includes 21 organizations – 19 banks, one insurance company, and one non-bank credit organization. Along with them, the technical partner, CreditInfo, is among the founders and owns 51 percent of the bureau’s shares.
The private credit bureau will contain more information than the Centralized Credit Registry and cover a big number of borrowers. The bureau will receive information not only from banks, but also from insurance and leasing companies, municipal institutions, mobile operators and others.