Global conglomerate chosen to establish credit bureau
The Central Bank of The Bahamas (CBOB) announced yesterday that it has invited Italian-based CRIF S.p.A. (CRIF) to apply for the license to establish and operate The Bahamas’ credit bureau.
The company was chosen over two other qualified firms that also submitted proposals to the Central Bank for consideration.
“An evaluation committee was established to assess the proposals, comprised of a representative of the Clearing Banks Association, a representative of the Bahamas Chamber of Commerce and Employers Confederation and representatives from the Central Bank,” the CBOB said in a press release.
“The International Finance Corporation of the World Bank Group provided technical assistance in regards to the committee’s scoring of the proposals and helped the Central Bank develop the supervisory framework for the eventual operator. The evaluation process included a review of the RFP [request for proposals ] responses, interviews of the shortlisted firms and site visits to an operation of each shortlisted firm. Following this process, the evaluation committee recommended CRIF S.p.A. as the preferred credit bureau operator.”
CRIF has a presence in more than 30 countries in the Caribbean, Europe, North America, Africa and Asia. It established the CRIF Information Bureau Jamaica in 2011.
According to its website, CRIF is an independent company with 90 percent of its capital held by founding members, management and the remaining 10 percent by various credit institutions.
The company specializes in credit information systems, business information, credit management solutions; and offers banks, financial institutions, utility companies and business qualified support in every phase of the customer relationship, its website states.
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