Azerbaijan, Baku / corr Trend I. Xalilova / The National Bank of Azerbaijan (NBA) has removed limitations on cataloguing loan data by banks into the Centralized Credit Register (CCR) edits, Emin Huseynov, the Director of the NBA Statistics and Research Department, said.
After the adoption of changes in the CCR by the Azerbaijani Justice Ministry, data on loans given to individuals with a total sum less than AZN 1,000 and legal persons less than AZN 5,000, will also be indexed in the CCR.
"It will help to give a comprehensive loan history of all borrowers in the CCR," Huseynov said. It is necessary because of the development of micro-crediting, and the amount of micro-credits is less than AZN 1,000, and consumer crediting.
Moreover, by the end of 2007 the National Bank is planning to improve this field with respect to cutting the duration of processing and red-tape in the credit register.
The CCR was created in March 2005 within the World Bank's project on "Technical assistance to Azerbaijan's financial sector". The credit register is one of the tools of management of banks' credit risks.