Yangon-based microfinance institutions met to discuss a credit reporting system for MFIs in Myanmar.

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.

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