16 septembre 2008
Banks urged to make use credit reference bureau
Banks and financial institutions operating
in Tanzania have been advised to make use of the credit reference
bureau in order to minimise the prevailing high rates of default on
loans.
The Managing Director of a debt collection firm, Harvest Tanzania,
Joseph Mambia lamented in Dar es Salaam yesterday that many financial
institutions are not aware of the existence and importance of credit
reference bureau as a supportive pillar to their business.
The credit reference bureau, he said, helps to avail clear
information about potential borrowers, and bring business convenience
to both creditors and debtors.
In order to reduce the rate of defaulting, financial institutions
are, as a matter of principal, obliged to consult credit reference
bureaus and request about the history of their prospective borrowers as
a necessary condition for lending.
`We have to emulate what our friends in developing countries are
doing to minimise the rate of default on loans since they have
cultivated the culture of investigating on the history of borrowers,`
he said.
In a move to sensitize the public on the importance of credit
bureau functions, his company in collaboration with Global Credit
Solution (GCS) will be hosting a global credit reference conference in
Dar es Salaam next year.
The meeting will attract more than 100 participants from both domestic and global public and private sectors.
GCS offers a wide range of solutions in credit and risk management on the global landscape.
To accept Africa to host the 2008 Conference is huge honour for
both Tanzania`s business sector and tourism sector given that it is the
first ever that the conference is being held on the African continent.
`There is a great opportunity for Tanzania`s business community to
experience first hand and share in the latest global trends and
practices employed by GCS itself as a global leader in credit
management solutions`, he said.
Among other benefits, the finance, investment and banking sector
will interact and share views on a wide range on credit management
issues.
The rate of borrowing in countries like Greece, Portugal and South
Africa is much higher because people have already developed a culture
of taking precautions before processing loans, he said.
The global credit solution is an Australian based company with world wide representation network in 70 countries
(Source : Guardian repris par ippmedia.com)
11 août 2008
Nigeria: Credit Registry Accelerates Transformation of Country's Retail Credit Sector
CreditRegistry, Nigeria's pioneer private credit
bureau is set to transform the retail credit unit of the financial
services sector, as plans have been concluded to host key stakeholders
in the financial, telecom and retail service industries.
The
Governor of the Central Bank of Nigeria, Professor Chukwuma Soludo, the
Minister of Finance, Shamsudeen Usman and other dignitaries are
scheduled to grace this event. Also in attendance will be seasoned
banker and CreditRegistry chairman, Fola Adeola, and director, Atedo
Peterside.
Fundamental issues threatening Nigeria's emerging
retail credit industry in the form of identity theft fraud, skipping of
loan repayment and slow credit access, will also be addressed during
the course of the event.
The event which has
been scheduled to hold on Thursday, May 15, 2008 and strictly by
invitation, will provide attendees the opportunity to witness how
CreditRegistry's modern and innovative credit bureau services can open
up new areas of significant revenue for financial institutions, service
providers and retailers.
Speaking on the
forthcoming event, Taiwo Ayedun, Managing Director of the company said:
"Amongst other things, our mission is to stimulate economic expansion
and wealth creation in Nigeria by promoting social accountability
mechanisms that will enable faster building of trust between parties in
economic transactions."
CreditRegistry has
been in existence for over six years in Nigeria, has a database of over
1 million items of borrower information, and has been working closely
with most of the leading banks in the country.
CreditRegistry
is also the first and only credit bureau in the world to incorporate
biometrics into a modern credit bureau system, thus addressing the
issue of identity fraud. With this event, CreditRegistry plans not just
to showcase its offerings, but to provide answers to the burning
questions about the consumer credit market.
CreditRegistry's
pioneering and world-leading consumer identification services
incorporate both facial and fingerprint technologies, which protect
subscribers and potential borrowers from identity theft fraud.
Commenting
further, Mr. Ayedun said: "At CreditRegistry, our focus is to bring
great value to Nigerian banks, customers and retailers using modern
technologies. We possess the most secure, cost-effective and innovative
technologies to help Nigerian creditors to expand credit opportunities
to consumers without worrying about revenue losses from consumer fraud".
CreditRegistry
was incorporated in Nigeria in January 2003. For three months beginning
in August 2003, CreditRegistry conducted comprehensive technical
evaluations of its services with major Nigerian banks in partnership
with the Risk Managers Association of Nigeria (RIMAN) - the foremost
and largest association of risk managers in Nigeria.
CreditRegistry began operations in December 2003. With over one million
items of borrower information and close to 20 subscribers, the company
has, over the years, developed innovative ways of developing unique
products and services for the Nigerian market.
Source ( Peter Egwuatu Lagos, AllAfrica.com)
03 juin 2008
PAKISTAN: First credit bureau scoring system launched (march 2008)
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)