International Finance Corporation (IFC), a member of the World Bank Group, and DataCheck Pvt. Ltd., Pakistan’s leading private credit bureau, Thursday launched the first credit bureau scoring system, which will enhance the credit environment and increase access to finance.
The new credit bureau services provided by DataCheck will benefit Pakistan’s entire lending community. IFC Advisory Services in the Middle East and North Africa – PEP-MENA, led the effort.
Shamshad Akhtar, Governor State Bank of Pakistan (SBP), noted that developing a sustainable and dynamic credit environment is key to a healthy economy, and that lenders need access to effective tools and methodologies to make better lending decisions and support the growth of Pakistan’s economy. She said, “we have taken an active role in developing the credit industry and are pleased that the private sector also recognises the importance of this field. We welcome new ideas and best practices from around the world that will help the industry grow in a profitable and sustainable manner.”
(Source : dailytimes.com.pk)