DUSHANBE, November 16, 2009, Asia-Plus  -- Training for representatives of media on establishment of a credit bureau in Tajikistan was held in Dushanbe on November 16.

Ms. Zarrina Odinayeva, coordinator of the IFC project for improvement of financial market infrastructure in Tajikistan, said that that helped lenders assess credit worthiness and the ability to pay back a loan, reducing the risk of nonpayment of loans.

She stressed that information is collected and used by a credit bureau only by consent of a borrower.  “In Tajikistan, there are all necessary conditions for establishment of credit bureau,” said Odinayeva, “In March this year, the country adopted the law on credit histories as well as made necessary amendments to the law on licensing certain types of activities.  In June this year, on the initiative of the financial institutions of the country the National bank of Tajikistan (NBT) began the process of working out regulations on the procedure of licensing credit bureau’s activity that has been completed by this day and the draft regulations are currently under inter-ministerial coordination.”

The legislative process is expected to end completely at the beginning of the next year and after that, founders of the credit bureau (NBT and commercial banks) will choose a technical  partner by a tender.  The credit bureau is expected to begin working in Tajikistan in the second half-year of 2010.