Number of appeals to Azerbaijan Credit Bureau increasing

Business Materials 23 April 2019 13:48 (UTC +04:00)

Baku, Azerbaijan, April 23

By Kheyraddin Nasirzade - Trend:

The number of appeals to the Azerbaijan Credit Bureau is increasing, Elchin Habibov, the director general of the Bureau, told Trend.

He said that at this stage the process of collecting data of some banks and non-bank credit organizations (NBCO) has increased. The number of banks and NBCOs that are connected to the bureau system will grow, he noted.

He added that besides, negotiations are underway to connect various leasing companies and credit unions to the bureau system.

Some companies are ready to cooperate with the bureau, but for now the process is slowing down due to the problems of companies with the provision of technical support for data transfer, he noted.

He said that the process of issuing compensations for problem loans to individuals that started should improve the credit history of borrowers.

Participants of the banking market decided to establish Azerbaijan Credit Bureau LLC in December 2017.

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.


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