Changes in World Bank Ranking Criteria in Ease of Doing Business Ranking 2015 challenge States to re-strategize
Recently, the World Bank released the 12th Edition of the Ease of Doing Business Report. Themed Going Beyond Efficiency, the Report compares Business Regulations for domestic firms in 189 Economies across the globe. Separately, Prof Kaushik Basu, Senior Vice President and Chief Economist of the World Bank, pitched for the expansion of BRICS to BRICKS. BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which were all deemed to be at a similar stage of newly advanced economic development. South Africa was recently recognized as an emerging economy and added to the previous BRIC, making BRICS. Prof Basu, who previously served …
5 reasons why you should check your credit report frequently!
The year 2014 began on a high note for Kenya’s Credit Information Sharing (CIS) mechanism, with the publication of the Credit Reference Bureau (CRB) Regulations 2013. The new Regulations opened a new chapter in the CIS mechanism by among others, allowing both commercial banks and microfinance banks (previously known as Deposit-Taking Microfinance Institutions – DTMs) to share information on their good and bad borrowers, away from the traditional approach of sharing information on defaulters only amongst commercial banks. Other provisions included the reduction of data retention rules from seven to five years, issuance of pre-llisting notices to borrowers before they …
Tips on building and maintaining a positive credit profile!
If I am listed in the Credit Reference Bureau, will I ever qualify for a loan in future? What can I do to attain and maintain and build a positive credit reputation? These two questions have lingered in the mind of any borrower at some point in time and in this week’s blog piece, we attempt to share some advice on building and maintaining that esteemed and attractive credit profile. But first, it is important to know that as per the Credit Reference Bureau Regulations 2013, commercial and microfinance banks are mandated to share information on both their good and …