Large projects to be carried out by International Financial Corporation (IFC), in cooperation with Central Bank of Azerbaijan and financial sector on a number of legislative initiatives.
Legislation on covered bonds is included and the promotion work is expected to be carried out by Corporation and procedures for collateral sales, says IFC representative.
A. Azimova declared, \" We will also work with the CBA on the issues of secured transactions’ legislative regulation, movable property registry, law on private credit bureaus. The CBA still keeps on specifying its approaches to the bill on credit bureaus but we work with the banks on their preparation for movable property registry maintenance and emergence of private credit bureaus .\"
The Central Bank commenced reconsideration of approaches, when the credit bureaus was about to be released. It is to be noted that the reconsideration process is going on for about half a year.
Legislation on covered bonds is included and the promotion work is expected to be carried out by Corporation and procedures for collateral sales, says IFC representative.
A. Azimova declared, \" We will also work with the CBA on the issues of secured transactions’ legislative regulation, movable property registry, law on private credit bureaus. The CBA still keeps on specifying its approaches to the bill on credit bureaus but we work with the banks on their preparation for movable property registry maintenance and emergence of private credit bureaus .\"
The Central Bank commenced reconsideration of approaches, when the credit bureaus was about to be released. It is to be noted that the reconsideration process is going on for about half a year.