New Private Credit Bureau down for Discussion at Town Hall Meeting

A private Credit Bureau is proposed to be setup in Barbados and Barbadians are being offered an opportunity to learn more and share their views about this proposal.

This opportunity comes as The Barbados Bankers Association (TBBA) invites all interested persons including consumers of credit services, consumer representatives, and the general public to a Town Hall meeting being held Tuesday 25th July, 2017, from 5:00 pm to 7:30 pm at the Lloyd Erskine Sandiford Centre.

“The Barbados Bankers Association (TBBA) is in the process of selecting a provider for the establishment and operation of a private Credit Bureau in Barbados which is to be done on the basis of international best practice in terms of reciprocity, confidentiality, privacy principles and consumer rights. Accordingly, TBBA is making every effort to provide our stakeholders and the public with an opportunity to further hear about the proposal for the operation of a Credit Bureau in Barbados,” TBBA said in an official statement.

TBBA added that a main objective of the Town Hall meeting would be to share details on establishing a ‘World Class Credit Information System for Barbados‘, covering topics including an Overview of Credit Information Sharing and the Regulatory Framework namely the Code of Conduct.

In addition to contributions from local TBBA representatives, Barbadians can expect to hear from an official representative of the International Finance Corporation (IFC), and another international speaker who will share the lender’s perspective on credit information sharing.

TBBA notes that public participation in the upcoming Town Hall meeting is extremely important, and urges all to make a special effort to attend and to participate, particularly in the question and answer segment.

For further information kindly contact TBBA Secretariat at (246) 430-6541 or respond to tbba@tradeteam.bb.

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