"On credit bureaus" bill to be presented to parliament by the end of year

APA reports, according to the chair of the Parliament's committee for economic policy Ziyad Semedzade. "The bill provides establishment of a loan register. Loan registers exist in all developed countries of the world today and data about creditors and borrowers are stored there," - the Chair of the committee said.

Mr.Semedzade noted that the bill "On microfinance organizations" prepared with the support by the Asian Development Bank has not been discussed yet. Regarding proposals on microfinance organizations' providing banking services, Mr.Semedzade said that current rivalry climate does not allow it: "Microfinance organizations offer very high interest rates at present and the society has a demand to it."