Public Credit Registry Department of DAB Introduced Online Credit Reports for the First Time in Afghanistan
Da Afghanistan Bank launched a full electronic Credit Information Sharing System known as Public Credit Registry (PCR) on December 16, 2013 for the first time in Afghanistan. The system is fully automated based on international best practices. PCR will enable potential borrowers to have access to finance and increase credit penetration in the country. The system is helping financial institutions to have enough online information about the customers and their guarantors to make better-informed decisions.
On April 1, 2014, Public Credit Registry department of DAB introduced its first online Credit Report, which is a historic success for financial sector in Afghanistan. PCR online reports will help lending sector to reduce fraudulent applications for credit, provide a consumer with the ability to assemble a positive lending history, reduce their cost of borrowing, and increase access to credit that enable banks to better control credit risks. In order to enable lenders to understand consumers’ credit history, PCR initially introduced the following package of credit reports:
- Credit Info Report
- Credit Info Report Plus
- Scoring Report
- Consumer Report
- Consumer Report Plus
The purpose of establishing an online Credit Information Sharing System is to enhance access to financial resources and loan facilities in Afghanistan.