Baku, Azerbaijan, April 9
By Azad Hasanli - Trend:
CreditInfo Group withdrew from the equity in the first Private Credit Bureau of Azerbaijan, the company said in a message on April 9.
However, the company will continue its work in Azerbaijan, according to the report.
"CreditInfo intends to continue to provide innovative analytical solutions and consulting services for credit risk management in Azerbaijan," the company said.
CreditInfo was a technical partner and one of the founders of the first Private Credit Bureau of Azerbaijan.
Presently, the Azerbaijan Credit Bureau LLC is the first Private Credit Bureau, the founders of which are the International Bank of Azerbaijan, Bank Respublika, Xalq Bank, Kapital Bank, PASHA Bank, Rabitabank, Unibank and Ziraat Bank Azerbaijan.
Creation of credit histories of borrowers in Azerbaijan began in 2005 after the establishment of the Centralized Credit Registry Service (CSC). The register covers the full range of information on banks, non-bank credit institutions, borrowers, owners of large interest packages in the borrowers' capital, loans and pledges.
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.