A Memorandum of Understanding [MOU] paving the way for the further expansion of the breadth of data in the credit bureau database was recently signed between the Commercial Registry of the Deeds and Commercial Registries Authority and Creditinfo (Guyana) Inc. Signing on behalf of the two entities were Registrar of Commerce Acting, Ms. Nicole Prince, and Chief Executive Officer of Creditinfo (Guyana) Inc., Ms. Judy Semple-Joseph.
This information sharing agreement is intended to facilitate regular and efficient flows of data on registered businesses and companies that would further enhance the quality of credit reports being provided by the credit bureau.
Under the terms of the agreement this publicly available information will be shared under strict protocols for inclusion in the credit bureau database which primarily serves the financial sector and other subscribers to the credit bureau.
Through its mandate to operate as a credit bureau in various markets, Creditinfo has established high standards of data requirements for its Credit Bureau System (CBS) database. The Business and Company data repository by the Commercial Registry is therefore needed to satisfy the requirements of data sufficiency for this market and, in addition, contributes directly to a favourable assessment for Guyana on the World Bank Doing Business Index.
This development of a credit bureau in Guyana has now created an enabling environment in which larger numbers of persons can access much needed credit far easier and within a shorter processing time. Also, with the credit bureau the credit decision making process is facilitated much easier.
As one of the newest subsidiaries of the global Creditinfo Group of Companies, Creditinfo Guyana has been forging ahead with its mandate to provide the full range of credit reporting services to the local market and continuously improving it data quality.