12:30 - 5.11.2024

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 November 5, Fineko/abc.az. The Rules for Opening, Maintaining & Closing of Bank Accounts, approved by the Resolution of the Board of the Central Bank (CBA) from February 4, 2022, defines the requirements for opening remote bank accounts. The existing experience will also be used in the development of a draft procedure for managing credit risks in non-bank credit institutions.

ABC.AZ reports with reference to the Central Bank that the regulation of the process under consideration will allow the correct implementation of the necessary measures to identify their customers when introducing remote lending in non-bank credit institutions, to prevent growth of negative situations that may arise in this area in the future:

In accordance with the CBA-drafted and entered into force amendments to the Law on Non-bank Credit Organizations, a requirement has been established on the procedure for managing credit risks in non-bank credit organizations.

In the draft procedure for managing credit risks in non-bank credit institutions, along with the requirements for the policy and monitoring of credit risk management, minimum requirements for the assessment and administration of credit risks are noted."