Regulatory Alerts2025-05-20
Law of the Republic of Azerbaijan on Credit Bureaus
The Parliament of Azerbaijan enacted this Law to establish the legal framework for credit bureaus, mandating Central Bank supervision and defining corporate establishment requirements. The legislation requires licensed data providers to submit positive and negative credit information, mandates bureaus to maintain secure databases for ten years, and grants subjects explicit rights to consent, access reports, and request data corrections. By standardizing credit history formation, cross-border data transmission, and confidentiality protocols, the Law strengthens financial discipline, improves access to credit services, and ensures systemic stability.
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