Azernews.Az

By Trend

Charter capital of the first private credit bureau in Azerbaijan has been fully formed, Elchin Habibov, director general of the bureau, said Feb. 9 at a press conference on the launch of the first private credit bureau in Azerbaijan.

“As you know, according to the charter of the bureau, our authorized capital is 2 million manats,” said Habibov. “These funds are fully provided by member banks on the basis of equal share participation.”

He noted that the central office of the bureau is being formed. In addition, signing of contracts between the bureau and credit organizations continues, he added.

“We have already obtained a license for activity from Azerbaijan’s Ministry of Transport, Communications and High Technologies,” Habibov noted. “Formation of the bureau’s central office, technical platform and signing of bilateral agreements with banks and non-bank credit organizations (NBCOs) continues. The rules for obtaining and providing information to credit bureaus and a form of a contract with banks and the NBCOs are also being prepared. These organizations were sent requests for signing a contract.”

The charter capital of credit bureaus in Azerbaijan must be at least two million manats.

In December last year, 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.

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