Any legal entity has the right to establish a private credit bureau
in Azerbaijan, considering compliance with the country's legislation, Zakir Nuriyev, head of the Azerbaijan Banks Association, said Feb.
Connection (CBC) and Clarity Services have partnered to now provide thousands of automotive dealers a first-of-its-kind, comprehensive view of a consumer's credit history, the companies said.
Since 2009, the IFC Azerbaijan-Central Asia Financial Markets Infrastructure Project, part of the World Bank Groups Finance and Markets Global Practice, has been helping to strengthen Azerbaijans financial infrastructure by supporting the development of credit bureaus
, as well as introducing a formal risk management function and secured transaction system in Azerbaijan.
Minister for Law and Justices Zahid Hamid on behalf of Minister for Finance Mohammad Ishaq Dar moved the Credit Bureaus
(Amendment) Bill, 2016 in the House as reported by the Standing Committee.
com)-- After obtaining the in-principle license, CRIF is now conducting delivery and implementation of the new credit bureau
solution and one of the preparatory activities for the operational license application.
Under the law, credit bureaus
or SAEs are duly-accredited private corporations engaged primarily in the business of providing credit reports, ratings and other similar credit information products and services, the CIC had noted.
This law states that the act shall enter into force from the time of the entry into force of amendments to the law that incorporates the activities of credit bureaus
in the list of activities subject to licensing.
The session covered the experiences of GCC credit bureaus
since their establishment and their role towards supporting banks and financial institutions, in addition to a review of future plans to evolve and develop the regional credit reporting industry.
Factual credit information leads the way in assessing consumers' creditworthiness which will effectively see the end of blacklists, said the CEO of the Saudi Credit Bureau
Prior to that, credit bureaus
operated in an unregulated environment and were registered under the Ministry of Trade and Industry in accordance with the Companies Act, 2004 (Act No.
The central bank of Singapore has said that it wants more oversight of credit bureaus
From a macroeconomic point of view, credit bureaus
can bring about higher growth rates for businesses and individuals, and therefore the economy, through an increase in credit lines to those who wish to borrow.
Members of the Middle East Credit Reporting Association (MECRA) convened at the Association's inaugural meeting today in Dubai to review its strategy of promoting the credit reporting industry in the region, supporting the development of credit bureaus
through the exchange of knowledge, and to discuss best practices in order to establish industry standards for this region.
The Middle East Credit Reporting Association (Mecra) reviewed its strategy of promoting credit reporting industry in the region and supporting the development of credit bureaus
through the exchange of knowledge.
Under the Fair Credit Reporting Act, credit bureaus
must ensure all information on credit reports is accurate and current.