Banks must check sellers’ sales values and customer counts against credit-bureau data; a match below 90% on either measure triggers classification of the loan as a non-performing asset.
Azerbaijan’s central bank has tightened lending requirements for companies and individual entrepreneurs that sell goods on installment plans, JAMnews said. The requirements add checks on the sales information sellers give to banks.
Sellers must report the total value of their installment sales and their number of customers. Banks must check both figures against information from credit bureaus, which collect credit information.
If either figure matches the bureau data at a rate below 90%, the loan will be classified as a non-performing asset. JAMnews suggested that a rise in overdue bank loans could be one reason for the tighter rules.
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