Watchout your credit report!
Indonesia's Central Bank (Bank Indonesia) will officially open the Credit Information Bureau (Biro Informasi Kredit) Thursday, June 29, years after the plan emerged.
While the demand for credit has risen exponentially, especially in the consumer sector---including credit cards, there has been a parallel increase in competition, and credit delinquencies. In such an environment, risk assessment is of critical importance. Not only, in deciding on what business to book and the speed at which a credit grantor does so, but also in determining the appropriate pricing.
The central bank actually has the bureau in place, but with limited access to banks and credit limit of above Rp50 million. According to Bank Indonesia, the demand for credit data doubled in the period of December 2005 to April 2006.
The new bureau will have all the credit data above Rp1, so practially all your credit cards report would be visible to all banks amid reports of increasing bad debts in the credit cards sector.
Soon after the bureau in full operation, other business opportunities might emerge such as credit rating. Anybody?
READ MORE!!!
While the demand for credit has risen exponentially, especially in the consumer sector---including credit cards, there has been a parallel increase in competition, and credit delinquencies. In such an environment, risk assessment is of critical importance. Not only, in deciding on what business to book and the speed at which a credit grantor does so, but also in determining the appropriate pricing.
The central bank actually has the bureau in place, but with limited access to banks and credit limit of above Rp50 million. According to Bank Indonesia, the demand for credit data doubled in the period of December 2005 to April 2006.
The new bureau will have all the credit data above Rp1, so practially all your credit cards report would be visible to all banks amid reports of increasing bad debts in the credit cards sector.
Soon after the bureau in full operation, other business opportunities might emerge such as credit rating. Anybody?
READ MORE!!!
posted by yosef at 5:00 PM
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