Azerbaijan's Private Credit Bureau completes collection of data on borrowers
Baku, Azerbaijan, March 12
By Anvar Mammadov - Trend:
The first private credit bureau in Azerbaijan has completed the process of signing bilateral agreements with the country's banks and non-banking credit organizations (NBCO), the bureau said on Monday.
These agreements cover the rules of transfer of credit history to the bureau and its further use. Thus, the bureau started information exchange with credit organizations since March 6.
Along with credit organizations, bilateral agreements on cooperation were also signed with 21 insurance and one reinsurance company operating in Azerbaijan.
In the near future, these companies will also be able to use the services of the bureau.
Last December, Azerbaijani banking market participants made a decision to create Azerbaijan Credit Bureau LLC. Chairman of the Board of the International Bank of Azerbaijan Khalid Ahadov was elected Chairman of the Supervisory Board of the Azerbaijan Credit Bureau.
The founders of the Azerbaijan Credit Bureau LLC are the International Bank of Azerbaijan, Bank Respublika, Xalq Bank, Kapital Bank, PASHA Bank, Rabitabank, Unibank and Ziraat Bank Azerbaijan.
The private credit bureau will contain more information than the Centralized Credit Registry and cover a bigger number of borrowers. The bureau will receive information not only from banks, but also from insurance and leasing companies, mobile communication operators, etc.