Azerbaijan's first private credit bureau will launch in early 2018

Baku. 19 April. REPORT.AZ/ Azerbaijan's first private credit bureau is planned to launch early next year.

Report informs, Chairman of the Bureau's Managerial Board Elchin Ahmadov told reporters.

According to him, currently founders specify organizational-legal form of the bureau. The appeal will soon be made to the Ministry of Taxes for registration of the new company: "The company probably will be called “Creditinfo-Azerbaijan”.

E.Ahmadov noted that the credit bureau will not operate only as a database. The new financial institution will conduct market monitoring, analysis and help maximum optimization of risks faced by financial market participants.

Information to the Bureau will not be transferred only by banks, but also by non-bank credit organizations, mobile operators gradually, utility service providers, leasing and insurance companies even. The purpose is to make customers acquainted with all participants in the financial sector and their prospects. These are an important elements in decision-making: "In addition, every citizen will be given an opportunity to become familiar with own information once a year".