Positive credit history

On Wednesday, Baku hosted a seminar on Central Credit Registry, positive credit history of small and medium enterprises and the ways to use that image.

The seminar was organized with the assistance of IFC "Pasha Bank" The plan IFC "Education and awareness of financial knowledge of SMEs."

Specialist of the International Finance Corporation (IFC) Rasmina Gurbatova spoke about the functioning central registry of credits at the Central Bank, which operates since 2005.

Head of the Service Registry Elchin Gabibov noted that credit registry is connected to 42 commercial banks and 18 non-bank credit institutions. In addition to the system have access to 351 regional banking subsidiaries. According to this registry, the country has 1.4 million active loan recipients, one thousand of which 3,800 individuals. Total registry has 3.8 million credit histories. Thus in Azerbaijan every lender has 1.4 credit obligations in two or more credit institutions.

Gabibov said that since January 2013, to collect information from the registry of information on all operations on loans, including delays to repay loans in the afternoons. In addition, work is under way to establish a credit bureau, which for a full coverage of data on debt will also receive information from leasing and trading companies. To do this, you first need to introduce the country's registry of movable property, which is being IFC. This organization (a member of the World Bank) has sponsored in Azerbaijan 62 commercial projects totaling $ 634 mln. The corporation performs six programs in Azerbaijan to develop the business climate.

Participating in the seminar, the entrepreneurs complained of negative factors available in obtaining loans, not related to their credit history. There are cases where a centralized register of credit gets not actually relevant information on the credit debt trader or a third-party entity. It's not uncommon when the registry does not affect the fact of delay of the loan to close the obligations. - 08C-