Together, they combine exclusive subprime credit data with existing traditional
credit bureau information to enhance credit reports and compliance solutions to
Credit Bureau Connection's customers.
IFC, a member of the World Bank Group, has helped launch Azerbaijans first private
credit bureau to enable local financial institutions to better share credit information and manage lending risks, and boost access to finance for borrowers, including small and medium enterprises.
The Statement and objects and reasons of the bill says that the purpose of
Credit Bureaus (Amendment) Bill, 2016 to amendments in the
Credit Bureaus Act, 2015, is to ensure that the existing legislation is in conformity with the provisions of the BCO, 1962, and international
The liberalization of the credit market and the publication of PBI 15/2013 issued by the Indonesian central bank (Bank of Indonesia) radically changed the scenario for
credit bureau providers.
According to the CIC,
credit bureaus are deemed essential to the proposed credit information ecosystem as they create innovative value-added products and services, such as credit scoring and analytics.
Kochkorov also proposed to add a new article providing the possibility of banks and other financial and credit institutions of information constituting bank secrecy, the
credit bureau to the law on bank secrecy.
Dubai: Precautions are needed to protect the lending sector and minimise any risks to the credit market in Gulf countries, advised Al Etihad
Credit Bureau chief executive officer Marwan Ahmad Lutfi.
Nabil Al-Mubarak, CEO of SIMAH said, "We are a neutral
credit bureau that provides credit information reports according to the Credit Information Law and Implementing Regulations.
The Bank of Namibia will regulate
credit bureaus in the interim, as stated by its Governer, Ipumbu Shimmi when asked to comment when the gazetting was announced at the Ministry of Finance.
Credit bureaus in Singapore are not subjected to regulation or penalties.
Credit bureaus also allow for greater information sharing which allows lenders to review how much and at what rate they lend to borrowers.
As economies across the region move towards a period of sustained recovery and long-term stability, we are confident that a knowledge based economy created by
credit bureaus will ensure sound recovery.
