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Seoul hosts International Credit Bureau Conference.

* Arab bank officials were among more than 350 experts of 40 countries from banking, government and the academic world who met at the 'International Credit Bureau Conference 2004 Seoul' to exchange views on implementing full-scale positive credit bureaus, now seen as essential in the wake of massive loan and credit card defaults in South Korea and other parts of Asia The conference was organised by the Standard Chartered Bank which employs 30,000 people in over 500 locations in more than 50 countries including the Middle East. Positive credit bureaus are central databases that store historic and current data, including credit card balances and limits, outstanding loan balances and payment histories as well as other information on every borrower in the financial system--thus enabling lenders to assess every consumer's creditworthiness and manage risk across their entire loan portfolios.
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Publication:The Middle East
Article Type:Brief Article
Geographic Code:9SOUT
Date:Apr 1, 2004
Words:138
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