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UEMOA: The BIC at the scanner in the community space

09/12/2020
Source : Financial Afrik
Categories: Economy/Forex

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An awareness campaign will be initiated by the Central Bank of West African States (BCEAO) and the International Finance Corporation (IFC), a subsidiary of the World Bank Group,  to facilitate a  better understanding of the services offered by the Creditinfo West Africa Office.

Designed since 2013 for the 8 countries of the West African Economic and Monetary Union (WAEMU), the International Credit  Bureau (BIC) will be explained to  consumers to companies in this currency zone.

For the Bceao, taking charge of its finances is the first step towards financial well-being and having a good credit rating, allows you to negotiate better loan terms with the  bank and thus obtain more affordable and accessible loans.

 

According to the IFC, a robust credit information system within waEMU will make it easier for financial institutions to manage risks and make decisions  to support businesses and  entrepreneurs.

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