Azerbaijan approves supervisory rules for credit bureaus

Baku. 8 January. REPORT.AZ/ Minimum amount of authorized capital to create credit bureau in Azerbaijan was set 2 mln AZN.

Report informs, it was envisaged in the "Rules for regulation and control of credit bureaus activity" approved by the Financial Market Supervisory Authority, which have already come into force.

The head (members) of the executive body of a credit bureau must comply with such requirements as higher education and at least 3 (three) years of management experience, and civil impeccability.

These requirements also apply to the head of the executive body of the legal person (external manager), who has obtained powers of the executive body of a credit bureau.