The Credit Bureau and its functions

CreditInfo Chief Executive Officer Judy Semple-Joseph

In 2006, the Government of Guyana and the Private Sector jointly conceived and developed what was to become one of the more important policy papers to come out of any other collaborative effort between these two entities. This was the National Competitiveness Strategy, and it was meant to take a hard look at, among other things; various means of improving the environment for private investment and export development.

The imperative of improving access to finance at competitive interest rates for working capital and capital investments, as a requirement of creating and sustaining competitiveness as a critical element in investment decisions was the driving force behind the initiative to establish the services of a fully functional credit bureau in this market. This led to the passing of the Credit Reporting Act of 2010, which set forth the guiding principles that govern the manner and means of the operation of such a bureau, as regulated and monitored by the Bank of Guyana.

The Act in its entirety tasks this credit bureau to “engage in the practice of collecting and processing credit Information or