• Latest
Regional Credit Bureau in the Making

Regional Credit Bureau in the Making

8 years ago
Ariza Credit Union Job Vacancy

Ariza Vacancy: Executive Manager, HR & Administrative Services

20 hours ago
PM’s address to United Nations General Assembly

PM’s address to United Nations General Assembly

2 days ago
Island nations launch new declaration at AOSIS Leaders Meeting

Island nations launch new declaration at AOSIS Leaders Meeting

2 days ago
Osteologist assists GNM with study of human remains

Antony O’Hannan: Grenada’s Rebel Priest

2 days ago
GTA announces Virgin Atlantic third flight to Grenada

GTA announces Virgin Atlantic third flight to Grenada

2 days ago
Grenada and Republic of Ireland establish diplomatic relations

Grenada and Republic of Ireland establish diplomatic relations

2 days ago
Grenada and Republic of Kenya establish diplomatic relations

Grenada and Republic of Kenya establish diplomatic relations

2 days ago
American citizen services outreach to Carriacou  

Employment opportunity: Accountant

2 days ago
Tropical Weather Outlook: Friday, 22 September 2023 (2 pm)

Tropical Weather Outlook: Friday, 22 September 2023 (2 pm)

2 days ago
Enhancing solidarity and moving forward together

Enhancing solidarity and moving forward together

2 days ago

PM to attend 78th United Nations General Assembly

3 days ago
Grenada and Kingdom of Bahrain establish Diplomatic Relations

Grenada and Kingdom of Bahrain establish Diplomatic Relations

3 days ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Regional Credit Bureau in the Making

This story was posted 8 years ago
19 June 2015
in General News
2 min. read
Credit Report and Magnifying Glass
Share

The establishment of a Credit Bureau in the Eastern Caribbean Currency Union moves closer to reality, as the Eastern Caribbean Central Bank (ECCB), and the International Finance Corporation (IFC) collaborate to finalise the draft Harmonised Credit Reporting Bill and Regulations.

The Harmonised Credit Reporting Bill and Regulations System will apply to Grenada and other members of the Eastern Caribbean Currency Union.

The ECCB is receiving technical assistance and advisory services from the IFC, with financing from the Canadian Department of Foreign Affairs, Trade and Development, for the ECCU Credit Bureau Project. The objective of the project is for the IFC, and the ECCB to collaborate on the establishment of the regulatory and supervisory framework to support an advanced credit reporting system in the ECCU.

A news release from the ECCB said, once the draft legislation is approved, the next step in the process of the establishment of a credit bureau in the region is the issuance of a Request for Proposal to allow potential credit bureau operators to submit bids indicating their interest in operating a regional credit bureau.

According to the IFC’s Credit Bureau Knowledge Guide (2006), “a credit bureau is an institution that collects information from creditors and available public sources on a borrower’s credit history. The bureau compiles information on individuals and/or small firms, such as information on credit repayment records, court judgments, and bankruptcies, and then creates a comprehensive credit report that is sold to creditors.” Credit bureaus are crucial building blocks that enable greater access to financing for both individuals and small businesses.

“A credit bureau in the ECCU, will therefore improve citizens’ access to loans from financial institutions, and will help to reduce the cost of borrowing,” the release added.

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: bureaucrediteccbeccuifclegislationregulation
Next Post
The Demand for Integrity in Public Life

Inaugural Regional Integrity Commission Conference

Comment on post Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in . Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.