Arab Monetary Fund Organizes 3rd Meeting of Arab Credit Information Committee

The third meeting of the Arab Committee on Credit Information of the Board of Governors of Arab Central Banks and Arab Monetary Institutions kicked off Wednesday in Abu Dhabi.
Managers responsible for credit information systems and risk centers in Arab central banks, as well as managers of Arab credit bureaus and companies, and experts from the International Finance Corporation (IFC) are taking part in the meeting, organized by the Arab Monetary Fund.
Topics on the agenda of the meeting include several important issues, including the requirements for developing the applications of secured lending records in the Arab countries, the role of credit information in promoting the creation of job opportunities in Arab countries, and the possibility of adopting mechanisms for exchanging credit information among Arab countries, thus enhancing the opportunities for developing investments and inter-financial transactions.
The committee will also discuss the classification of Arab Countries in the Business Climate Indicators of the World Bank, and the issuance of a regional indicator of credit information efficiency, and the promoting the use of large data in the detection of fraud in credit query.
The Arab Committee on Credit Information was established by the Board of Governors of Arab Central Banks and Arab Monetary Institutions in 2015 aiming to contribute to the development of credit information systems and to raise awareness of their issues in the Arab countries.
The Arab Monetary Fund is responsible for the Committee's technical secretariat. its responsibilities include preparing papers and studies of the committee, organizing workshops and conferences for senior officials in order to enhance the exchange of experiences between central banks and Arab monetary institutions, in addition to communication and coordination with international institutions concerned with credit issues.

Source: QNA