Belarus will establish a credit history bureau under the National Bank of Belarus (NBB) within three or four months, the NBB chairman, Petr Prokopovich, told a news conference.
“The bureau will be established under the NBB or as its part,” Petr Prokopovich said, adding that only the NBB would be able to perform this work efficiently and fast.
“The bureau will be established on the basis of our specialized department in the city of Minsk. We have already started establishing it, that is, we will not wait for the law and will be able to have some experience by the time it is adopted,” Petr Prokopovich said.
The NBB adopted the bill on credit history bureaus back in early 2004, and that version of the concept envisaged the establishment of several credit history bureaus, including private ones. But the consideration of the bill was postponed.
The NBB noted that the unified credit history bureau would provide access to information for all commercial banks of the country. The databank will be provided both for free and on a chargeable basis. Credit history bureaus are organizations that collect and disseminate information about the performance of companies and individuals that wish to take out loans. There are various organizational forms of credit history bureaus in the world, including state-run bureaus. There are several dozens of bureaus of the kind in the world.