ArmenPress
Oct 19 2004

AUSTRIAN, GERMAN EXPERTS TO LEARN PROSPECTS FOR INTRODUCING NEW
CREDITING SYSTEM IN ARMENIA

YEREVAN, OCTOBER 19, ARMENPRESS: G. Wagner, G. Biernach and F.
Boyek, three representatives of the Austrian KSV and German SCHUFA
credit bureaus have arrived today in Armenia at the invitation of the
Armenian ACRA credit bureau. ACRA has been cooperating with them for
several months already. The agreement on their visit to Armenia was
reached during a world gathering of senior executives of credit
bureaus in Beijing, when ACRA applied for membership to influential
credit organizations.
The goal of the Austrian and German experts is to assess
preconditions of the establishment of the institution of Armenian
credit bureau and to offer to ACRA and local commercial banks an
efficient system of cooperation that has been tested successfully in
many developed and developing European countries. The system supposes
the most precise evaluation of risk factors.
Application of that system in Armenia will allow Armenian lenders
to make their financial responsibility a guarantee for receiving
privileged credits.
Austrian and German experts will discuss the issue of introduction
of that system with senior officials of the Central Bank, World Bank
Yerevan office and other lending organizations and commercial banks.