Credit registry expands in Azerbaijan

Today more than 1.2 million borrowers are registered in the Central Credit Register (CCR), Head of CCR Service under the Central Bank Elchin Habibov told reporters on Tuesday during a workshop "Automated tools, scoring and optimization of financing through a credit bureau".

The workshop was organized under a project of the International Finance Corporation (IFC) to strengthen the financial infrastructure in Central Asia and Azerbaijan (ACAFI - Azerbaijan-Central Asia Financial Markets Infrastructure).

"Within a year for every 7 out of 10 signed loan agreements credit decisions after receiving information from the registry were taken. Today the credit registry is a significant tool for making lending decisions in banks," Habibov said. He noted only in 2011 the credit register received over 500,000 requests.


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