Yemen: IFC Helps Reform Credit Reporting Infrastructure. IFC Helps Reform Credit Reporting Infrastructure. IFC, a member of the World Bank Group, is helping the Central Bank of Yemen (CBY) reform its credit reporting framework, part of wider efforts to improve the country’s financial infrastructure, facilitate lending for smaller businesses, and boost economic growth. IFC will help CBY establish and operate a new credit registry—a platform to collate the credit information of borrowers—and will also support CBY in developing a legal and regulatory framework for credit reporting. For more information please click here.
Guyana: IFC Helps to Launch First Licensed Credit Bureau. IFC helped the Bank of Guyana establish the country’s first credit reporting system, which will enable local financial institutions to share credit information and ultimately boost access to finance for individuals and SMEs. Guyana is the second country in the Caribbean, after Jamaica, to license a credit bureau, said IFC Global Product Leader Shalini Sankaranarayanan. For more information please click here.
West Africa: IFC Helps BCEAO Set Up Regional Credit Reporting System. IFC and the Central Bank of West African States signed an agreement to support the creation of a regional credit reporting system that will help increase access to finance in the West African monetary union. “With the creation of regional credit bureaus, thousands of consumers should get access to financing,” said Yolande Duhem, IFC Director for West and Central Africa. For more information please click here.
Suriname: IFC Helps Central Bank of Suriname to Establish its First Credit Reporting System.This important institution of financial infrastructure will allow financial institutions to share credit information and better manage lending risks, thereby increasing access to finance for underserved individual borrowers and small businesses. “Suriname’s credit reporting system will be critical in promoting a more mature credit culture that supports responsible lending practices and enhances access to credit by retail, micro and small borrowers,” said Ingeborg Geduld-Nijman, Director of the Supervision Department for the Central Bank of Suriname. “For this reason, the Central Bank of Suriname is developing new legislation to govern credit information sharing and strengthen the country’s overall financial infrastructure.” For more information please click here.
Belize: IFC Helps Belize Develop its First Credit Reporting System to Increase Access to Finance. With support from the Canadian International Development Agency, IFC and the Central Bank of Belize are co-hosting the third Caribbean Credit Reporting Conference today in Belize City. The conference will bring together representatives from financial institutions, credit unions, utilities, insurance companies and central banks in the region to build awareness and deepen knowledge of credit reporting systems. For more information please click here.
Vietnam: IFC Helps Launch First Private Credit Bureau in the country. The first private credit bureau in Vietnam has come into operation after 5 years of preparation with IFC's support. With 22 commercial banks agreeing to provide credit information, the credit bureau will help expand access to credit for consumers and businesses, while improving risk management for lenders. This will enable banks to deliver financial services at significantly reduced costs and expand credit to wider segments of the economy. For more info please click here.
Burundi: IFC to Help Develop Credit Reporting System. IFC has signed a cooperation agreement with the Burundian government to provide advisory services to help develop an efficient credit reporting system. This will include the development of a new legal framework, a capacity building program for the central bank, credit reporting infrastructure, and effective supervision systems. For more info please click here.
Tajikistan: IFC Helps Establish Tajikistan’s First Credit Information Bureau, Boosting Business Development. IFC supported Tajikistan's first private credit bureau in acquiring a license from the central bank, helping the country strengthen financial market infrastructure and improve access to finance for small and medium enterprises, and entrepreneurs.The National Bank of Tajikistan in December issued a license to the Credit Information Bureau Tajikistan, enabling it to become the first private credit bureau in the country and start credit information sharing services. From now on, it is officially authorized to start collecting information on borrowers from Tajik financial institutions. For more info please click here.
Jordan: IFC Helps Jordan Establish Its First Private Credit Bureau, Facilitating Access to Finance. IFC signed an agreement with the Central Bank of Jordan to support the establishment of a private credit reporting industry in Jordan, which will eventually help individuals and small businesses access much-needed finance, boosting the overall economy. For more info please click here.
The Philippines: IFC to support development of a comprehensive credit information bureau in the country. Credit Information Corp. (CiC) signed a memorandum of understanding with the International Finance Corp. (IFC) to establish a mechanism that will help establish a credit information system to support lenders in making better loan approval decisions. CiC president Baltazar Endriga said there was an urgent need to put in place a centralized credit information bureau within the country’s financial system and other credit facilities. For more info please click here.
Malaysia: IFC, Malaysian Central Bank Help Strengthen Credit-Risk Management to Boost Access to Finance. IFC and Bank Negara Malaysia this week began a five-day training program that brings together more than 100 regulators, credit-reporting professionals, and microfinance practitioners from 43 countries of the world. The Fourth Credit Reporting and Risk Management Training in Kuala Lumpur is designed to help attendees improve their skills in assessing and managing credit risks. For more info please click here.
India: IFC Helps High Mark Strengthen Credit Reporting to Expand Microfinance Lending. The initiative will encourage microfinance lenders to use credit bureaus to help them assess the repayment capacity of borrowers, lowering credit risk and helping ensure informed lending. It will address the problem of multiple lending and over-indebtedness among microfinance clients in India. High Mark, India’s fastest-growing credit bureau, aims to add 50 more lenders to its existing credit-information network under the project. For more info please click here.
Tanzania: IFC Helps Set Up Credit Bureau to Benefit Smaller Businesses. IFC Advisory Services helped Tanzania's central bank set up a credit databank, making it easier for smaller businesses to access finance. IFC Operations Officer Moyo Violet Ndonde said the databank will improve access to finance for SMEs. For more info please click here.
Tonga: IFC Helps Launch Credit Information Bureau to Increase Access to Finance. IFC partnered with Data Bureau Ltd., a Fijian-owned credit information company, to establish the Tongan branch, Data Bureau (Tonga) Ltd. Over the past year, the bureau has developed a database that has 3,000 public notices and the credit histories of more than 700 companies out of a total of 2,884 registered businesses in Tonga. For more info please click here.
Pakistan: Official Launch of a Microfinance Credit Information Bureau (MF-CIB) by the State Bank of Pakistan. Highlighting the importance of the sector and its role in Pakistan’s economy, Governor, State Bank, Yaseen Anwar, on this occasion, stated that the bureau would help microfinance banks and microfinance institutions in developing a robust risk management system and practices, which in turn reduces the risk of multiple borrowing and loan defaults. For more info please click here.
Vietnam: Private Credit Information Center (PCB) Applies for a License. The nation’s first private credit information center, the PCB, has submitted application for license to the State Bank of Vietnam (SBV). The center was established by the Private Credit Bureau Investment Joint Stock Company (PCB) after years of preparation. In 2007, the private credit information project was kicked off with supports from the International Finance Corporation (IFC), which is an arm of the World Bank. For more information please click here.
Africa: IFC and Senegal to Increase Access to Finance in West African Monetary Union. IFC, in cooperation with Senegal’s Ministry of Economy and Finance, held the first regional credit-reporting conference in the UEMOA region. The conference brought together key government officials, policymakers, top financial managers, and opinion leaders from across the region to discuss the fundamental concepts of credit reporting and the benefits technology can bring to the region’s credit industry, consumers, shareholders, and overall economy. For more information please click here.
Cambodia: Credit Bureau Begins Operations. IFC has been assisting the National Bank of Cambodia (NBC) and the Cambodian financial industry with establishing a comprehensive credit reporting system.The long-awaited Cambodian Credit Bureau (CBC) launched yesterday, a move that is expected to increase the amount of information banks retain on the history of borrowers in the banking system. Steve Vaile, a consultant with the CBC, said that the bureau would allow banks and microfinance institutions to benefit from reduced credit risk. For more information please click here. Also, for additional information, please see the interview of H.E. Chea Serey, Deputy Director General at National Bank of Cambodia, on country's banking sector, including insights on CBC,
Jamaica: Creditinfo gets approval for country’s first credit bureau. The Ministry of Finance, Planning and the Public Service has granted approval for the first licence to be issued for the establishment of a credit bureau in Jamaica. The licence has been awarded to Creditinfo Jamaica Limited, a joint venture between local partners Coalesce Credit Solutions Limited and a leading international credit bureau, Creditinfo Group based in Northern Ireland. For more information please click here.
IFC Help Banks, Microfinance Institutions Enhance Credit Reporting in South Asia. IFC is working with central banks, bankers associations, and microfinance institutions in South Asia to enhance credit reporting in the region. Through its Global Credit Reporting Program, IFC is providing advisory services and expert advice on credit reporting infrastructure and legal and regulatory reforms, reports Microfinance Focus. For more information please click here.
IFC Helps Uzbekistan’s Financial Organizations Expand Lending, Supporting Entrepreneurs and Small Businesses. IFC, in partnership with SAIPRO Information Rating Agency, launched a two-day seminar on how banks can use automation, scoring, and credit bureaus in their loan operations. Industry experts, including representatives from Italy’s CRIF and Iceland’s CreditInfo Solutions, discussed best practices in credit information exchange. Over 70 participants from the financial industry attended the seminar. For more information please click here.
IFC, Bank Negara Malaysia Partner to Help Increase Financial Services for Small Businesses. IFC and Bank Negara Malaysia are training government regulators and microfinance practitioners to better understand and implement credit reporting and risk-management methodologies that help expand credit for micro and small businesses in developing countries. For more information, please click here.
Ethiopia: The National Bank of Ethiopia (NBE) launches a new web-based credit information system, which will help address the problem of information asymmetry and build reputation capital. The newly introduced on-line based system was financially supported by the World Bank while International Finance Corporation (IFC) has carried out the design and technical project. For more information. For more information, please click here.
Credit info goes online. Bangladesh Bank yesterday launched online services of its Credit Information Bureau (CIB) to provide quick reports to banks and non-bank financial institutions. The UK-based Department for International Development (DFID) funded the project, with assistance from International Finance Corporation (IFC) office in Dhaka. For more information, please click here.
Equifax India Launches Microfinance Credit Bureau. Equifax Credit Information Services, the joint venture between Equifax and six leading Indian financial institutions announced the launch of a new microfinance credit bureau in India today. The bureau is aimed at supporting the efforts of financial institutions to provide financial services to low-income segments of the Indian population. here.
Thailand: Innovative Approaches to SME Banking and Credit Reporting for SMEs Workshop. IFC organized a workshop on SME Banking and Credit Reporting on June 2, 2011 in Bangkok. Please see a full agenda here. High-level Strategy Meeting on Credit Information Sharing: Hangzhou, China, May 30, 2011: The meeting was held in Hangzou, China, over three days in late May. The meetings were hosted by PBOC Hangzhou Branch and attended by senior officials from the CRC (Chinese public registry), IFC technical specialists and representatives from the private sector. The discussions revolved around how best to develop the credit information sharing industry in China with particular focus on the inclusion of the rural finance sector, the development of the SME sector and the role of financial literacy. Case studies were presented by Credit Bureau Singapore (SME) and NICE Korea (public / private partnership and Micro). In conclusion the IFC and CRC agreed to continue working closely to foster development in each of these key areas.
Uzbekistan: Draft law “On exchange of credit information” discussed in Uzbekistan. Central Bank of Uzbekistan in cooperation with the Uzbekistan Banking Association and International Finance Corporation (IFC) organized a seminar, which was dedicated to discussion of a draft law “On exchange of credit information”, reportsUzbekistan Daily.
Brazil: Financial Infrastructure Week 2011. The World Bank Group together with IFC will for the first time organized a gathering of financial infrastructure practitioners around the World in Rio de Janeiro, Brazil, from March 14 to March 17, 2011. In addition to a full day of common plenary sessions, this prestigious event combined three different streams: "Expanding the Horizons of Payment System Development", "Moving beyond the Crisis – The Role of Credit Reporting" and "Increasing Access to Credit through Secured Transactions Reform". For conference details, please clickhere.
The Maldives: IFC Helps Maldives Launch Credit Information Bureau to Strengthen Financial Infrastructure. Besides enhancing capacity of the country's financial sector and creating a formal credit culture, this will help improve access to finance for more than 2,500 small and medium enterprises, supporting their livelihoods. "IFC's advice in preparing a business plan and its support during the bureau's startup phase is highly valued," said Neeza Imad, Executive Director, Maldives Monetary Authority. For more information, please click here.
Information-Sharing System on 30 November. The event was organized by IFC in cooperation with the Central Bank of Uzbekistan and the Institute of Forecasting and Macroeconomic Research, and drew some 40 representatives from ministries, state agencies, banks, and credit unions, as well as other interested organizations of Uzbekistan. "An effective credit information-sharing system is key to increasing access to finance for small enterprises. Credit information sharing enables faster processing of credit applications, interest rates, and collateral requirements," said Galina Saidova, First Deputy Minister of Economy of Uzbekistan, reports Uzbekistan Daily.
Cape Verde to Establish its First Credit Bureau. After completing a full legal and technical review of the Cape Verdean system, facilitated by the International Finance Corporation (IFC), international credit bureau service providers submitted technical and investment proposals to form the credit bureau with local investors. In anticipation of this private credit reporting system, the Banco de Cabo Verde (Central Bank) adjusted its policies, discontinuing its own credit information system and becoming the regulator of the new credit bureau, reports Millennium Challenge Corporation.
India: Microfinance Institutions Network (MFIN) plans on developing microfinance credit reporting system. The bureaus would have customer data, including repayment behavior that would allow lenders to take more informed credit decisions. Colin Raymond, IFC regional credit bureau advisor for South Asia and Central Asia, added that credit bureaus will be in a position to capture data on all MFI customers, reports Financial Chronicle.
Azerbaijan: Micro-finance Association (AMFA) hosted 5th Conference called "Responsible Microfinance in Azerbaijan." Its main goal was to ensure that MFIs in Azerbaijan provide loans only to credible borrowers and promote responsible microfinance in order to avoid risks of the overindebtedness. At the conference, IFC's Global Credit Bureau Program Specialist, Oscar Madeddu, presented on the benefits of a Private Credit Bureau for the microfinance sector. For more information please click here.
Ghana: Doing Business Ranking Rises 10 Places. The IFC/WB Doing Business 2011 report ranks Ghana 67th in global ease of doing business, up 10 places from last year. "The West African country led the world in making it easier for business to obtain credit," IFC said in a statement, noting the government's moves to establish a collateral registry and grant an operating license to a private credit bureau, reports Reuters.
Lao PDR: IFC Calls for Sustainable, Inclusive Economic Growth and signs an agreement for the development of credit information sharing system, which is the first of its kind in Laos and marks a key step in improving access to finance, particularly for small and micro borrowers, reports Vientiane Times reports.
The Credit Information Bureau (CRIB) recently held a symposium on 'Credit Reports and Beyond' for lenders in Colombo, Sri Lanka. IFC Principal Financial Specialist Tony Lythgoe and other industry-reputed speakers enlightened CRIB stakeholders about how credit bureaus can help to develop lending operations and analytical models for risk management practices, adding that the introduction of value-added services will benefit both the bureaus and their users and improve access to finance for the broader community,Daily News Sri Lanka reports.
Vietnam's first private credit bureau, PCB, launches in Hanoi. The bureau is expected to supply highly credible credit information about individuals and organizations and it will also help small-and-medium-sized enterprises (SMEs) and the private sector access credit quickly and easily, Vietnam reports.
The first workshop on Financial Infrastructure launched by the World Bank in partnership with the Arab Monetary Fund and the Union of Arab Banks was held in Abu Dhabi on June 29, 2010.The major session of the training focused on financial infrastructure, credit rights, guarantee systems and payment and settlement systems."The economy does not move unless you have credit, and in most cases access to credit means more production, a better economy, and a possibility for each and every one to progress" said Oscar Madeddu, Specialist with IFC's Global Credit Bureau Program. For more information, please see the video report from Inside Business on City 7 TV. http://www.youtube.com/watch?v=s_X8k3O5k8A .
IFC Helps Tajikistan Develop Credit Information Sharing System through a training on internationally recognized best practices in sharing credit information for more than 90 professionals from banks, microfinance organizations, mobile and utility companies. The training offers further support for the recently established Credit Information Bureau in Tajikistan. For more information, please click here.
Guyana: IFC Advises on Establishment of Credit Bureau — IFC provided advice on a new credit reporting bill that was recently passed by the government of Guyana, Stabroek News reports. The bill's passage, which marks a milestone for IFC's CIDA-funded Caribbean Credit Bureau program, will enable the establishment of a credit bureau and facilitate greater access to finance.
IFC helps The Central Bank of Jordan (CBJ) prepare the grounds for establishing a private credit bureau in the country. A temporary law for credit information has been endorsed by the government of Jordan, which will enable banks and companies to check the financial soundness and credibility of their clients, reports The Jordan Times. Establishing such an entity will reduce the percentage of defaulted loans at financial institutions that provide small- and medium-sized loans as banks will be able to obtain information on the financial histories of applicants for credit facilities, said Tayseer Smadi, CEO of the Islamic International Arab Bank.
The Bahamas: IFC and the Caribbean Regional Technical Assistance Center (CARTAC) are supporting the Central Bank of the Bahamas and partners with plans to develop the first private credit bureau, The Tribune reports. Establishing a credit bureau is "a major, vital component of bringing the Bahamas into the modern age of financial services" said Paul McWeeney, the Head of Clearing Banks Association (CBA).
Malaysia: IFC, Central Bank Train Regulators on Credit Reporting, Access to Finance — Bank Negara of Malaysia in cooperation with IFC jointly hosted a five-day training session in Kuala Lumpur for more than 70 regulators and credit reporting professionals from around the world. The training provided intermediate and advanced information on credit reporting, including scoring, modeling, risk management, implementation, and reform of credit bureau systems. For more information, please click here.
Philippines: New Credit Facility Makes Borrowing Easier for SMEs — A new credit rating facility, the Fico SME Score, is helping banks to assess the creditworthiness of small and medium enterprises in the Philippines, the Straits Times reports. IFC Principal Financial Specialist Tony Lythgoe said that banks tend not to deal with SMEs because of lack of transparency and high costs, but a good credit history improves firms' chances of obtaining loans.
Tajikistan: IFC, Partners Launch Tajikistan's First Credit Information Bureau. The official registration of Tajikistan's first private credit bureau, a long-awaited component of the financial infrastructure and a crucial mechanism for expanding credit for people and small business, has been completed. For more information, click here.
Vietnam: IFC Supports New Rule to Reduce Lending Risks–IFC supported the development of
Vietnam's new Decree on Credit Information Activities, which allows banks to share borrowers' credit history, thus enabling the banking system to significantly cut credit risk, VietnamNet reports. "The decree is expected to enable access to credit for MSMEs, and hence support the recovery of the Vietnamese economy," said IFC Regional Manager Simon Andrews
IFC and Morocco's Central Bank Partner to Promote Better Credit Reporting: Smaller businesses to benefit from improved access to finance. Study Tour organized for a 28 member delegation of the Central Banks and legislators from Tajikistan, Kyrgyzstan, and Azerbaijan in Morocco. For more information, click here.
Credit Bureau Singapore (CBS), FICO®, Singapore Business Federation (SBF), and IFC are hosting a seminar entitled, "Blended Credit Reports-- How They Can Work For You," on using blended SME data for better risk assessment of SMEs and improved lending decisions. The seminar took place on April 16, 2010 in Singapore. For more information, click here.
India: MFIN to ensure responsible lending–In a proactive move that will go a long way in enhancing responsible lending and institutionalising the process of credit information sharing, 35 NBFC - Microfinance Institutions (NBFC-MFIs), including all the top 10, have come together to set up Microfinance Institutions Network (MFIN), a self-regulatory organization of NBFC MFIs that aims to work with regulators to promote microfinance to achieve larger financial inclusion goals, reports IndiaInfoline. MFIN is supported by Omidyar Network, a philanthropic investment firm, and the International Finance Corporation (IFC), a member of the World Bank Group.
Africa: IFC, Central Banks Partner to Promote Access to Finance–IFC has launched a series of programs in cooperation with the central banks of Ethiopia, Mozambique, and Tanzania to increase the quality of credit reporting and promote access to finance and banking services for SMEs in Africa, Banking Business Review reports. IFC Principal Financial Specialist Ulrich Zeisluft said IFC's global experiences will help the central banks define perceptions and strategy. For more information, click here.
Azerbaijan: IFC partners, Central Bank to create credit bureau in Azerbaijan–IFC partnered with the Central Bank of Azerbaijan to host the first roundtable to discuss benefits of credit bureaus and to initiate creation of the first private credit bureau in the country with representatives of the government and financial sector, reports Armenia.Az. Anastassiya Marina, IFC Project Manager, said that a credit bureau is critical to expanding access to credit for people and small businesses.
Bangladesh: IFC Advises on Credit Bureau Automation–IFC South Asia Enterprise Development Facility is advising the Bangladesh's central bank on the automation of the Credit Information Bureau to help reduce the cost of credit for businesses and consumers and improve banking efficiency and reliability, the Daily Star reports. Access to finance is a critical obstacle facing SMEs, said central bank Governor Atiur Rahman
Tajikistan: Country among Top Reformers in Doing Business Report–Tajikistan ranked among the top 10 global reformer countries in the IFC/WB Doing Business 2010 report, Asia-Plus reports. IFC and the World Bank presented the report results last week in Dushanbe. The country ranked 152nd among 183 economies and was noted for amending its insolvency law, simplifying the construction permit process, creating a private credit bureau, and strengthening investor protections.
Kenya: First Credit Bureau Approved by Central Bank–Kenya's central bank approved "in principle" the country's first credit bureau, giving lenders better access to client's credit histories. The Kenya-based Credit Reference Bureau Africa is expected to get its full permit from the central bank and start operating in the next few months once it passes a security audit and on-site inspection, Governor Njuguna Ndung'u told reporters on August 27 in the capital, Nairobi. For more information, click here.
Ghana: Launch of XDSData Ghana Limited, Country's First Credit Bureau– The first credit reference bureau in Ghana and West Africa, XDS Data Ghana Limited, has begun operations with an official launch in Ghana in June 2009. Mr Dela Selormey, Head of Banking Supervision of Bank of Ghana attested to the fact that, to promote the orderly development of a credible credit reporting system in Ghana, Parliament enacted the Credit Reporting Act 2007 (Act 726). Mr Vivian Pather, Managing Director of XDSDATA South African, was hopeful that the bureau will serve its intended purpose by enhancing the opportunity of Small And Medium Enterprises (SMEs) and people in the informal sector to access credit, since the growth of the country's economy hinges on the success of its SMEs. IFC supported the development of an enabling legal and business environment for establishing Ghana's first credit bureau. For more information, click here.
Rwanda: First Private Credit Bueau Established–Rwanda's first private credit bureau is expected to reduce nonperforming loans and increase access to credit for the private sector, All Africa reports. The credit bureau is viewed as something that will enable Rwanda meet its IFC/WB Doing Business ranking targets.
Mongolia: IFC Supports Greater Sharing of Credit Information – IFC, the Mongolian Bankers Association and USAID hosted a conference for bankers, regulators, politicians, business associations and other stakeholders in Ulaanbaatar, Mongolia on improving the credit information environment on April 6, 2009. The conference was attended by over 100 participants who learned about the global trends and best practices in credit information sharing legal and regulatory issues and discussed the challenges of establishing and operating a private credit bureau in Mongolia. IFC Principal Operations Officer Colin Raymond said, “There is an important need for a private credit bureau in Mongolia”. The Mongolian Bankers Association welcomed the initiative for greater information sharing as a necessary step towards boosting bank competition in a difficult environment. For more information, click here.
IFC's Global Credit Bureau Program under the Access to Finance Business Line is organizing its first semi-annual Practice Group meeting for 2009. The meeting will take place at IFC's office in Cairo on March 30 and March 31, 2009. For a more detailed agenda, please click here.
IFC Supports Workshop on Financial Inclusion— The Advisory Group on APEC Financial System Capacity-Building, the APEC Business Advisory Council, the Asian Development Bank Institute, and the Alliance for Financial Inclusion, in collaboration with the Foundation for Development Cooperation, the Inter-American Development Bank and the International Finance Corporation are organizing a workshop on Promoting Financial Inclusion through Innovative Policies. The workshop, which will take place March 31 - April 3, 2009 in Tokyo, Japan, aims to provide a peer-to-peer learning and knowledge-sharing platform among policy makers that will enhance their capacity to develop an innovative and enabling policy environment for financial inclusion. The workshop also seeks to provide a basis for the design of a policy initiative on financial inclusion that will be proposed to the APEC Finance Ministers. The results of the workshop will be published in a report and distributed to relevant officials, particularly APEC Finance Ministers and Senior Finance Officials, and to regulators and influential private sector organizations in the Asia-Pacific region. IFC has been requested to participate and contribute to the dialogue on building inclusive financial identities
Lebanon: IFC Supports Development of Private Credit Bureaus — IFC, Visa International, and the Association of Banks in Lebanon held a roundtable to share international best practices for developing private credit bureaus, L'Orient Le Jour reports. IFC Country Officer Julia Brickell said, "Credit bureaus are a crucial building block that enable greater access to finance for both individuals and small businesses, thus inducing healthier financial systems. This workshop is yet another major step toward meeting this need in the country.’’ Related stories, Al Liwa, Al Mustaqbal, Annahar, Al Balad, Al Akhbar.
Next Generation Access to Finance: Gaining Scale and Reducing Costs with Tecnology and Credit Scoring (September 17-19, 2007, Washington DC) — IFC's Global Credit Bureau Program (GCBP) and CGAP, in collaboration with Visa International, organized a three-day conference to raise global awareness on the importance of new technologies and credit reporting in access to finance, featuring speakers from well known microfinance institutions, technology providers, policy makers and donors. The conference also hosted a trade fair showcasing latest innovations and products from leading technology and credit information providers in the field. Click here for more information on conference details. Conference materials, including speaker presentations and conference proceedings will also be made available shortly on this website. To read the latest press release on the event, please click here.
Give Credit Where Credit Is Due: BBL on April 24, 2007—featured presentations by guest speakers from the Political and Economic Research Council and Brookings Institute. The discussion was based on the Political and Economic Research Council's recent publication on the use of non-traditional and alternative data to bridge the lending information gap to sectors that are generally excluded from traditional credit lines. For access to full text of the paper click here.
Pakistan: IFC Supports Development Of Local Credit Bureau Services—IFC PEP-MENA will assist Datacheck, Pakistan's leading consumer credit bureau, to develop credit bureau services in order to provide local lending institutions with the latest tools to manage credit risk, the Business Recorder reports. IFC Director Michael Essex said, “It is … essential that the market has timely and accurate information to help it make more informed consumer credit decisions and adopt proven lending practices.” Related stories, Pakistan Observer, Dawn, Frontier Post, Statesman, Daily Times, News International, Pakistan Times, Daily Jang.
For further information on the Global Credit Reporting Program, contact: Shalini Sankaranarayanan | Email: SSankar1@ifc.org