Regulatory Alerts2022-12-09
Regulation on Obtaining Credit History Subject Consent and Confirming Its Fact for Credit Bureaus
Issued under Decree No. 1145 of the President of Azerbaijan, this regulation mandates data providers and users to obtain written or electronic consent from credit history subjects before submitting or retrieving credit information. It outlines specific exceptions where consent is unnecessary, such as for negative data, official publications, and law enforcement inquiries, while detailing the standardized Consent Statement form. Furthermore, it establishes clear procedural requirements for credit bureaus to electronically record and verify consent validity through designated system fields, ensuring compliant data exchange.
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