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Mobile phone operators will be able to submit their customers' credit histories to credit bureaus without permission
Mobile phone operators will be able to submit their customers' credit histories to credit bureaus without permission
Mobile phone operators are included in the list of data providers that provide information related to the credit histories of credit history subjects (individuals or legal entities about whom a credit history is formed) without obtaining consent.
AZE Finance.az reports that this was reflected in the proposed amendment to the law "On Credit Bureaus" included in the agenda of today's meeting of the Milli Majlis.
With this, mobile phone operators will be able to submit the data of the credit history subjects of their customers to the credit bureaus without their consent. It was noted that this will increase the ability to assess the solvency of persons applying for loans from credit organizations and the discipline of debt obligations.
Currently, a similar rule (not requiring consent to provide relevant information) applies to utilities.
According to the project, notifications about negative information provided to the credit bureau (any information that negatively characterizes the solvency of the subject of credit history and the discipline of the execution of the debt obligation from the time the debt obligation of the subject of credit history was created) will be transmitted to the subject of credit history by the credit bureau. According to this change, the subject of the credit history will have the right to receive a free notification about the negative information received by the credit bureau about him. The notice will include information about the data supplier providing the negative information. As a result, borrowers will not be able to pay due to any carelessness, time constraints, etc. being aware of negative information arising from similar reasons, they will be able to eliminate them in time.
The draft law will expand the scope of data collected in credit bureaus and increase the possibilities of assessing the solvency of credit history subjects and the enforcement discipline of debt obligations based on broader data, as well as providing information to borrowers about negative information about them, and on this basis, borrowers will have more effective management of their debts.
The bill was put to a vote and adopted in the third reading.
Mobile phone operators are included in the list of data providers that provide information related to the credit histories of credit history subjects (individuals or legal entities about whom a credit history is formed) without obtaining consent.
AZE Finance.az reports that this was reflected in the proposed amendment to the law "On Credit Bureaus" included in the agenda of today's meeting of the Milli Majlis.
With this, mobile phone operators will be able to submit the data of the credit history subjects of their customers to the credit bureaus without their consent. It was noted that this will increase the ability to assess the solvency of persons applying for loans from credit organizations and the discipline of debt obligations.
Currently, a similar rule (not requiring consent to provide relevant information) applies to utilities.
According to the project, notifications about negative information provided to the credit bureau (any information that negatively characterizes the solvency of the subject of credit history and the discipline of the execution of the debt obligation from the time the debt obligation of the subject of credit history was created) will be transmitted to the subject of credit history by the credit bureau. According to this change, the subject of the credit history will have the right to receive a free notification about the negative information received by the credit bureau about him. The notice will include information about the data supplier providing the negative information. As a result, borrowers will not be able to pay due to any carelessness, time constraints, etc. being aware of negative information arising from similar reasons, they will be able to eliminate them in time.
The draft law will expand the scope of data collected in credit bureaus and increase the possibilities of assessing the solvency of credit history subjects and the enforcement discipline of debt obligations based on broader data, as well as providing information to borrowers about negative information about them, and on this basis, borrowers will have more effective management of their debts.
The bill was put to a vote and adopted in the third reading.