Belize Partners with Global Credit Giant CRIF to Modernize Lending

Belize is upping its standards in credit management by partnering with CRIF, a global leader in credit information services. This company has experience setting up credit bureaus in 31 countries, and now they’re bringing that expertise to Belize. CRIF calls itself a comprehensive credit management company, and their job will be to handle all the data tied to your credit rating, making sure lenders can access accurate information when you need a loan. Company reps were at today’s press conference, explaining how this system will work and what it means for you.

 

Davide Meo, International Markets Director, CRIF

“The credit bureau is building trust. What we are working on is the possibility to create a database that will allow MSMEs, with trust, to access their own credit report to access credit and also for the underserved ones. And to be able from that moment on to monitor their activity to be able to continue and to build up their credit reputation. You might be surprised that on a global scale, ninety-five percent of the population is reliable, worth trusting. The five percent of population that is not included in trust can create issues for the rest of the population. So, our role is not to exclude anybody but to give information to allow you to make informed decisions. Therefore, to have a trust in the activity you are building up. Also, in serving your own clients. On the other side, the borrowers will be trusting the idea that you are granting credit at a different price, you are including them financially if they are not included. So, this is something that will be stability, and growth, granted by trust.”