PMA launches the upgraded Version IV of the Credit Registry System
The PMA launched today, the upgraded Version IV of the Credit Registry System. The system enters into operation to serve users from the Banks, Micro Finance Institutions and some Leasing companies. This upgraded version offers a set of basic components and elements related to the disclosure and the exchange of information on borrowers and their guarantors between all the parties that use the system. This version will reinforce the three main success criteria of the credit registry system; namely updated data, comprehensiveness and accuracy of the data that is made available on the system. Moreover, in this version, the PMA has assigned the task of posting and error correction data to system users, having itself been responsible for that task over the past years, since the first launch of the system in 2008.
It is worth mentioning that, according to the relevant IMF reports, the Credit Registry System developed by the PMA has occupied a leading rank among similar systems operated by the central banks in the MENA region.
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