News item
05.07.2010
Palestine Monetary Authority (PMA) Launches Credit Bureau Score developed by Creditinfo Schufa
On July 5th 2010 the PMA launched their Credit Bureau Scoring System in Ramallah, Palestine. The program was launched in the presence of heads of all the Palestinian Banks and senior representatives of the Micro Finance Institutions (MFI).
The Governor of the PMA Launches Bureau Score
The Governor of the PMA Dr. Jihad al-Wazir said in his introduction speech that the responsibility remains with the central banks and very large monetary authorities to maintain the stability of the financial system, enhancing and stimulating the investment to create an environment in which bank which can provide the required facilities for all borrowers, ranging from small enterprises and micro enterprises.
He also said that this project has been presented as a model to be used for other Arab central banks in a conference in Abu Dhabi, organized by the Arab Monetary Fund and International Finance Corporation.
The governor described the system of loan classification as vital, especially in situations of political and economic instability it will have a direct impact on the banking system. He also underlined that the launch of the program aims to maintain a portfolio of banking facilities of better managed credit risk.
Creditinfo SCHUFA Recognise Success of PMA
Paul Randall representing Creditinfo Schufa reported that the experience he made while working with the Monetary Authority, has differed significantly from what he had seen during his long experience of working with other start up credit bureaus. The dynamism, innovation and the results in the Monetary Authority were excellent. They provide high quality data within the credit bureau, and an extensive coverage of all customers, to a comprehensive extent that is rarely seen in other Central Bank credit bureaus.
Mr Randall pointed out that the credit bureau score will deliver benefits at the three levels of the state and the economy, the banks and the borrowers. It will provide easier access to lending and increase of sales of credit and improve identification of risks.
He also stressed the role of credit grantors in the use of this information. Each lender has to integrate the information into their risk management process in order to improve the quality of loans.
The Banks Anticipate Improved Risk Management
The Chairperson of the Association of Banks, Nabil Abu Diab, praised the achievements of the Monetary Authority, and noted that their initiatives interact with all the components of the banking system. He also expressed his pride in the Monetary Authority regarding the contribution to the development of financial systems in Syria and Iraq.
Creditinfo SCHUFA will continue their close relationship with the PMA and provide regular reviews and updates of the models as the information held in the credit bureau increases and evolves.
For more information in Arabic;
*وكالة معا: سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://www.maannews.net/arb/ViewDetails.aspx?ID=297094
*وكالة وفا: سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://arabic.wafa.ps/arabic/index.php?action=detail&id=80014
*جريدة القدس:سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://www.alquds.com/node/271555
*الرسالة.نت: اطلاق نظام نقدي جديد حول تصنيف المقترضين
الرابط: http://www.alresalah-net.net/ar/?action=showdetail&seid=16526
*راديو سراج: سلطة النقد تطلق نظام تصنيف المقترضين الجديد
الرابط: http://www.sirajfm.com/news.php?action=view&id=8358
*فتح ميديا: د.الوزير يؤكد عزم سلطة النقد اطلاق النظام الجديد
الرابط: http://www.fatehmedia.net/ar/news/41910.html
*شبكة فلسطين الاخبارية: احذروا عدم تسديد اي دفعة قرض في موعدها المحدد
الرابط: http://www.pnn.ps/index.php?option=com_content&task=view&id=83245
Creditinfo SCHUFA GmbH;
Creditinfo SCHUFA GmbH is a joint venture between SCHUFA Holding AG, the leading service provider for credit information in Germany and Creditinfo Group hf., a leading provider of risk management solutions, covering eleven European countries. The company offers data on creditworthiness and credit information services as well as value added services like software solutions throughout most of Europe. The headquarters are located in Wiesbaden/Germany.
The Palestine Monetary Authority:
The PMA was initially established by decree of the Palestinian Authority (PA) in December 1994, following the Oslo Accords signed between the Palestine Liberation Organisation (PLO) and Israel in 1994. Under the Accords, the PA acquired the right to establish its own Monetary Authority to implement and regulate monetary policies in Palestine. The PMA currently operates under PMA law no. 2 of 1997 passed by the then newly-established Palestinian Legislative Council
Til bakaThe Governor of the PMA Dr. Jihad al-Wazir said in his introduction speech that the responsibility remains with the central banks and very large monetary authorities to maintain the stability of the financial system, enhancing and stimulating the investment to create an environment in which bank which can provide the required facilities for all borrowers, ranging from small enterprises and micro enterprises.
He also said that this project has been presented as a model to be used for other Arab central banks in a conference in Abu Dhabi, organized by the Arab Monetary Fund and International Finance Corporation.
The governor described the system of loan classification as vital, especially in situations of political and economic instability it will have a direct impact on the banking system. He also underlined that the launch of the program aims to maintain a portfolio of banking facilities of better managed credit risk.
Creditinfo SCHUFA Recognise Success of PMA
Paul Randall representing Creditinfo Schufa reported that the experience he made while working with the Monetary Authority, has differed significantly from what he had seen during his long experience of working with other start up credit bureaus. The dynamism, innovation and the results in the Monetary Authority were excellent. They provide high quality data within the credit bureau, and an extensive coverage of all customers, to a comprehensive extent that is rarely seen in other Central Bank credit bureaus.
Mr Randall pointed out that the credit bureau score will deliver benefits at the three levels of the state and the economy, the banks and the borrowers. It will provide easier access to lending and increase of sales of credit and improve identification of risks.
He also stressed the role of credit grantors in the use of this information. Each lender has to integrate the information into their risk management process in order to improve the quality of loans.
The Banks Anticipate Improved Risk Management
The Chairperson of the Association of Banks, Nabil Abu Diab, praised the achievements of the Monetary Authority, and noted that their initiatives interact with all the components of the banking system. He also expressed his pride in the Monetary Authority regarding the contribution to the development of financial systems in Syria and Iraq.
Creditinfo SCHUFA will continue their close relationship with the PMA and provide regular reviews and updates of the models as the information held in the credit bureau increases and evolves.
For more information in Arabic;
*وكالة معا: سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://www.maannews.net/arb/ViewDetails.aspx?ID=297094
*وكالة وفا: سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://arabic.wafa.ps/arabic/index.php?action=detail&id=80014
*جريدة القدس:سلطة النقد تطلق نظام تصنيف المقترضين
الرابط: http://www.alquds.com/node/271555
*الرسالة.نت: اطلاق نظام نقدي جديد حول تصنيف المقترضين
الرابط: http://www.alresalah-net.net/ar/?action=showdetail&seid=16526
*راديو سراج: سلطة النقد تطلق نظام تصنيف المقترضين الجديد
الرابط: http://www.sirajfm.com/news.php?action=view&id=8358
*فتح ميديا: د.الوزير يؤكد عزم سلطة النقد اطلاق النظام الجديد
الرابط: http://www.fatehmedia.net/ar/news/41910.html
*شبكة فلسطين الاخبارية: احذروا عدم تسديد اي دفعة قرض في موعدها المحدد
الرابط: http://www.pnn.ps/index.php?option=com_content&task=view&id=83245
Creditinfo SCHUFA GmbH;
Creditinfo SCHUFA GmbH is a joint venture between SCHUFA Holding AG, the leading service provider for credit information in Germany and Creditinfo Group hf., a leading provider of risk management solutions, covering eleven European countries. The company offers data on creditworthiness and credit information services as well as value added services like software solutions throughout most of Europe. The headquarters are located in Wiesbaden/Germany.
The Palestine Monetary Authority:
The PMA was initially established by decree of the Palestinian Authority (PA) in December 1994, following the Oslo Accords signed between the Palestine Liberation Organisation (PLO) and Israel in 1994. Under the Accords, the PA acquired the right to establish its own Monetary Authority to implement and regulate monetary policies in Palestine. The PMA currently operates under PMA law no. 2 of 1997 passed by the then newly-established Palestinian Legislative Council