The International Finance Corporation (IFC) is to work with the Maldives Monetary Authority (MMA) to establish the country’s first credit information bureau, reports India Infoline.
The creation of a formal mechanism for sharing credit information will improve access to finance for small and medium enterprises, the IFC stated.
“Creating a financial infrastructure that supports informed credit-related decisions and improves access to credit for small and medium enterprises is an important priority for IFC and the Maldives,” said Per Kjellerhaug, IFC Regional Manager. “Establishing a credit information bureau will help the country get closer to achieving this goal.”
