Eight CIS member countries set up a regional financial association


April 17, Fineko/abc.az. Signing of the agreement on the establishment of the Regional Association of Credit Information Sharing has been held in Baku today.

The signing was organized by the World Bank Group and the Financial Markets Supervision Chamber of Azerbaijan (FIMSA).

The agreement was signed between the credit registers of Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Ukraine and Uzbekistan, which became the members of the Association.

During the signing ceremony FIMSA executive director Ibrahim Alyshov said that creation of such an association conforms to the foundations of the digital economy.

"Exchange of information between credit institutions will enable to improve the credit reporting system, ensure development of private credit bureaus and access to finance," Alyshov said.