Issues of establishment of private credit bureaus in Azerbaijan were discussed at the meeting of the Head of the Association of Banks of Azerbaijan (ABA), Zakir Nuriyev, and the Executive Director of ABA, Yunus Abdulov, with the representatives of the International Finance Corporation and the Swiss company Creditinfo Group, according to ABA.
According to Turan, the meeting agreed on an action plan and next steps for the creation of credit bureaus.
Before that Creditinfo Group participated in the creation of credit bureaus in Georgia, Romania and Kazakhstan and is their main shareholder.
The meeting discussed the steps taken to create credit bureaus and the forthcoming work in this direction.
Also discussed were the activities of credit bureaus overseas and benefit from their creation to banks and other related parties. -----76D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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