(ZIZ News) — Representatives of local businesses and financial institutions attended a one-day seminar on Effective Credit Management and Debt Recovery.
The seminar, held on Tuesday, was organised by the Caribbean Credit Bureau Limited.
Chief Executive Officer of the Caribbean Credit Bureau Limited, Grady Clarke said the session came on the heels of an expected change in credit regulations in the region.
“We are providing participants information about how to manage credit better, more responsible lending and as a result of that, being able to grant credit to an expanded market. There are various credit new regulations that are coming up soon and we want to make sure that businesses are operating in a manner consistent with the proposed legislations so that when the legislations come, we are already behaving in a manner that is even better than what is being proposed by the legislation. So it is important to educate all stakeholders if we expect them to provide the high quality credit service that businesses need to provide,” Clarke explained.
He said training of that nature would ensure that businesses deliver better quality service and grant more credit to an even larger market.
“We have a special relationship with the Credit Unions and we believe that the Credit Unions are the people’s finance companies and for the Credit Unions to deliver a better quality product, better service, it’s important for not only the credit union members to be properly trained and to be engaged in responsible lending and borrowing, but also for the population that they serve or the executives,” he said.
The Effective Credit Management and Debt Recovery Seminar was held at the St. Kitts Marriott Resort.