Monday 6 January 2014

GCC members mull joint credit reference information exchange | ASHARQ AL-AWSAT

GCC members mull joint credit reference information exchange | ASHARQ AL-AWSAT:

"Gulf Cooperation Council (GCC) member states are considering the launch of a mechanism to share credit referencing information between their respective credit bureaus.
The idea will be discussed during the 67th GCC Banking Supervision Committee meeting due to take place on Tuesday in Riyadh, Saudi Arabia.

The meeting, which will host finance ministers and central bank governors from member states—which comprise Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—will also be attended by credit bureaus from participating countries.

A source with knowledge of the situation told Asharq Al-Awsat that the mechanism, a Bahraini idea, had been almost “unanimously welcomed” by member state’s credit bureaus."

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