The first Credit Bureau in Macedonia “Macedonian Credit Bureau AD Skopje” will commence to offer its products and services on the market at the beginning of next year.This was announced at the two-year anniversary since the establishment of Macedonian Credit Bureau AD Skopje by the clearing house “Inter-bank clearing systems AD Skopje”.
 
– Successful operations of the Credit Bureau is postulate for establishing sound and stable debtor-creditor relations and reaching good business decisions. Its establishment two years ago, occurred in conditions of global financial crisis caused by bad non-prudent business decisions by the management of the financial institutions throughout the world. Against such background, Government decision to initiate establishment of private credit bureau with broad database seems wise and visionary, being a precondition for reaching sound and economically justifiable decisions, Vice Prime Minister and Minister of Finance Zoran Stavreski said in his welcoming speech at the occasion of the two-year anniversary of the Bureau.
 
He pointed out that the Bureau, within very short period of time, has attracted significant number of members among which the Public Revenue Office, besides the fact that it is only a provider rather than a user of the Bureau database.
 
– Thus, the country and its institutions confirmed their intention for active inclusion in the system that should ensure safe credit risk management and efficient credit policy, increased financial discipline, reduced interest rates, prevention of over-indebtedness of legal entities and natural persons and attracting investments, Vice Prime Minister Stavreski said.
 
Commencement of Bureau operations at the beginning of next year, as he pointed out, will indirectly contribute to reducing interest rates, since the non-performing loans will affect the credit costs.
 
Macedonian Credit Bureau CEO Slavica Bogoeva, said that the double anniversary they celebrated today, two years since its establishment and the launching of operations at the beginning of next year, demonstrate continuation of the success story, which commenced two years ago.
 
– Today Macedonian Credit Bureau is an institution, with clearly defined surrounding, goals, strategy, mission and vision, as well as considerably successful track record in realizing the set goals. We have 84 members from all economic sectors already, the number of which continuously increases, and, in only two years since its establishment, the Bureau shows readiness to launch operations, Bogoeva said.
 
She pointed out that the Bureau members will benefit from its functioning, however it will also play an important role in changing and modifying the behaviour and culture of credit beneficiaries, as well as in strengthening the credit industry. The state, as she stressed, will experience the benefits from the functioning of the Bureau through increased financial discipline in settling liabilities and improving business climate as a whole, as one of the preconditions for foreign investments.
 
USAID Mission Director in the Republic of Macedonia Michael Fritz pointed out that the credit bureaus offer comprehensive data on the practice of paying the debts and the current debt of credit applicants, enabling the creditor to lend funds.
 
– Objective of the USAID Business Environment Activity is to contribute to building human and functional capacities of the first private Macedonian Credit Bureau, Fritz said.
 
He pointed out that the Credit Bureau should help in increasing the access of the private sector to funds.
 
– Credit Bureau should contribute to reducing the costs of natural persons and stimulate them to pay the credits on time, Fritz said.
 
CEO of NLB Tutunska banka Gorgi Jancevski expects for the commencement of Credit Bureau operations to have positive effects on easier functioning of banks and increasing of credit activity.
 
– If the Credit Bureau functions as envisaged, and we are about to realize it, it will significantly contribute to easier functioning of banks. So far, we had NBRM Credit Registry, helping to a great extent in the operations, since we had insight in the amount borrowed by a company at other banks. Now, the Credit Bureau includes mobile operators and public enterprises, meaning that the banks will have even better insight, in particular when extending credits to citizens, on the level of borrowed amounts, i.e. on the creditworthiness, Jancevski said.This, according to him, will facilitate the procedure and provide for faster extending of credits.(MIA)
