CBA may create database for private credit bureaus

The Central Bank of Azerbaijan is ready to improve the legal framework to ensure creation of private credit bureau in the country.

Elchin Khabibov, director of the Central Credit Register (CCR) of the Central Bank of Azerbaijan, says that the Bank is interested to form private credit bureaus as an important element of financial infrastructure with wider coverage and range of services.

"In this regard, currently the CBA in cooperation with the International Finance Corporation (IFC) is working on improvement of the regulatory framework in this sphere," Khabibov said.

In the second half of 2011 under the pretext of revising the general concept the CBA withdrew the almost ready bill on credit bureaus. The revision of the concept has not been completed yet.

 
/abc.az/