Mozambican business owners plan to set up Credit Risk Centre

19 June 2012

Business owners from Mozambique, who are members of the Confederation of Economic Associations of Mozambique (CTA), plan to set up and operate a Credit Risk Centre, according to Mozambican daily newspaper Notícias.

The newspaper said that with this in mind the CTA had already contacted the Bank of Mozambique, officials of which had been receptive to the idea and had started analysing the proposal.

A Credit Risk Centre is a system that allows players within the financial system such as the central bank, retail banks, credit cooperatives, development and investment banks and others to exchange information about credit operations.

The main aim of this centre is to provide the central bank with specific and systematic information about credit operations taken on by financial institutions with the aim of protecting funds deposited by citizens in those same institutions, as well as being used to assess the debt capacity of customers and thus charge lower interest rates on loans with a lower credit risk. (macauhub)