Credit Bureau under National Bank may not start operation in the near future

Almaty. April 14. KazTAG - The state credit bureau created by the National Bank is not likely to start operation this year, said Ruslan Omarov, general director of the First Credit Bureau.

"The law on risks minimization was updated in 2011, it included the initiative of creation of the state credit bureau. The state credit bureau was registered in September 2012. Now it's April 2014- we see how "actively" the bureau is working. It has not been launched and they are not ready to work," he said.

"In the near future, as we understand, they will not start operation... in the proximate year. At the same time the Government spent a lot of money for the bureau creation: 500 mln tenge were allocated for the fixed capital, we see not results. We don't understand what it was created for," he said.

Meanwhile, the National Bank declared that the bureau is needed "as we need an etalon database of credit score".