Until recently, Pakistan did not have a consumer credit bureau and credit rating information service. The only repository of information on consumer credit was a list of loan defaulters above Rs 500,000 published by the State Bank of Pakistan through its Credit Information Bureau (CIB). In the private sector, credit information, especially credit rating services for consumers, are extremely limited even today.
Against the backdrop of rapidly-growing consumers lending portfolios at many of Pakistan’s commercial banks and the absence of a world-class consumer’s credit bureau rating service, JS group established Credit Chex joint venture with DCD Group.
Credit Chex approached Experian, a UK based global leader in credit rating service for consumer lending.
CreditChex is the exclusive licensee of Experian’s credit rating system in Pakistan and will offer services to commercial banks, non-banking financial institutions, utility and telecommunication service providers and any other Government or private sector institution which shares consumer data with the consumer credit bureau. These include:
• Positive credit information on individuals seeking credit
• Consumer Credit Bureau score
• Fraud detection and prevention
• Loan classification for the purpose of financial regulation
For further information on JS Group's consumer credit bureau activities and credit rating system please visit the CreditChex website at www.credit-chex.com or submit an enquiry through the Contact Us page.
