Workshop on Credit Reporting for Microfinance Institutions
Yangon-based microfinance institutions met to discuss a credit reporting system for MFIs in Myanmar.
There are 175 MFIs registered in Myanmar that serve the estimated 70% of
population which does not have access to formal financial services. The Director of
the Financial Regulatory Department, U Thant Zin, reminded the importance of credit reporting to participants.
“A credit bureau is an information sharing platform amongst creditors. It can make borrowers more transparent,
give confidence to lenders and prevent individuals and enterprises from getting into over-indebtedness.”
IFC Country Officer, Daw Khin Thida Maw, said, IFC had supported credit reporting service providers in
more than 20 countries and helped create an enabling environment for a credit reporting system in Myanmar.
Participants had an opportunity to learn about regulator’s and creditor’s perspectives of credit reporting system
from Jinchang Lai and Hung Hoang Ngovandan who are experts at IFC and also to hear from the CEO
of the Credit Bureau of Cambodia, Mr. Sothearoath Oeur on his country’s experience of credit reporting.
The workshop was held in Yangon and organized by the Ministry of Planning and Finance and
IFC with support from DFID.