TIRANA, Nov 19 /ATA/ The platform for encouragement of lending, developed by the Bank of Albania and the Albanian Association of Banks, provides for banks to be able to extend information about borrowers (companies, businesses and individuals) in order to ease credit.
In this context it will be the Credit Bureau, which will also contain data on other liabilities of potential borrowers to public institutions such as the Immovable Property Registration Office, social security, courts, etc.
Currently, information on borrowers’ liabilities is based on the Credit Registry, which is administered by the Bank of Albania. However, the crisis reinforced the need for borrower information to be broader than the status of loans they have in the financial system. The Credit Bureau is an important project that is expected to enrich this information in the future.
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