Barbadians should welcome the introduction of a credit bureau here as it will make it easier for individuals and small business to secure financing that they ordinarily may find difficult to access.
That is the advice from Government’s senior economic adviser Dr Kevin Greenidge, who pointed out that a new credit bureau, Creditadvice Barbados Limited, has been operating here since July 2019.
He said based on his own experience with such entities while living in the United States, “it is all benefits, no drawbacks”.
The economist was responding to what he considered “a hullabaloo” and general misunderstanding over the Fair Credit Reporting Act, which was approved by the House of Assembly this week. (SC)
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