Phillips signs first licence for credit bureau
Published:Wednesday | March 7, 2012 | 6:24 PM
Minister of Finance, Planning and the Public Service, Dr. Peter Phillips, said that today he signed the first licence for the long-awaited credit bureau to be established in Jamaica.
The licence will go to Creditinfo Jamaica, which is 20 per cent owned by Creditinfo Group, a Germany-based credit-information and risk-management solutions company, and 41 per cent by Jamaican shareholders.
Dr. Phillips was speaking at the official opening of the GraceKennedy Financial Centre at the corner of Harbour and Duke streets, downtown Kingston this afternoon.
Creditinfo Jamaica put its bid in for a licence from the Bank of Jamaica last year.
The new credit reporting system allows for the sharing of information between financial institutions and other specified bodies, through credit bureaus which will provide information on the borrowing and bill-paying habits of consumers and companies.
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