Creation of a credit bureau is supported through IFC-realized project of Azerbaijan-Central Asia Financial Markets Infrastructure (ACAFI) with financial support of the Swiss State Secretariat for Economic Affairs (SECO).
Addressing to the conference, Credit Bureau Executive Committee’s head Rauf Akhundov has stated that a new step is taken today to form the institute of private credit bureaus - the choice of the operator for its formation.
"The business will hardly finish with the adoption of a relevant law, and it will also be needed to form a bureau. The presence of a credit bureau is of great significance, as it will serve for formation of payment culture, will help to improve risk management, specify and improve the quality of credit information," Akhundov said.
Chairman of Centralized Credit Register Service Elchin Habibov informed about the institution. He noted that in Q1 of this year, the Service has processed over 430,000 inquiries.
Mainly foreign experts made speeches at the conference. They spoke about the establishment and operation of credit bureaus in the world.
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