by SANKA PRICE BARBADIANS have the best credit payment history in CARICOM. And with this reputation, they will be well placed to take advantage of any opportunities in the region when the CARICOM Single Market and Economy (CSME) becomes a reality. So said Bianca Williams, acting chief executive officer of the Caribbean Credit Bureau Limited (CCBL), the region's leading credit management and debt recovery service. Williams said that of the seven territories they serve, Barbadian consumers top the list for repaying their debts, while those of the Eastern Caribbean (OECS) have the worst record. She declined, however, to identify the worst offenders, saying this would be inappropriate. "According to our current credit reporting data files, Barbados stands as the leader within the region in having the best credit repayment patterns," said Williams in an interview with the SUNDAY SUN. "Research shows that over 77 per cent of data files received to date [this year] are excellent to good credit ratings, indicating that even with the increased demand for credit facilities, Barbadians are paying CCBL's subscribers promptly. "Only about 18 per cent of credit files reported are negative in nature, while about five per cent of consumers had no previously established credit ratings," she added. The excellent to good credit ratings for Barbados last year stood at 72 per cent, while negative files were recorded at 25 per cent. Williams said this improved showing was testimony to many Barbadians' seriousness over their financial commitments, and CCBL's effective reporting network. The importance of this information, said Williams, was that CCBL (formerly known as Credi-checks) could notify their clients about known credit risks no matter which territory the person tries to do business in. And this minimises the potential for revenue loss by businesses. "If you don't pay Peter in Barbados, you may not get credit from Paul from a CSME member state," said Grady Clarke, Credi-checks founder and former CEO, now a consultant with CCBL. "If the CSME objectives are to become a reality, shared data and information must be readily available to all engaged within the single market," said Williams, adding that it was CCBL's aim to continue pioneering credit management and credit reporting within the Caribbean. Williams, who had responsibility for the company's OECS operations before taking charge in March, said as part of their initiative to ensure bills incurred by Cricket World Cup are paid, CCBL have launched an initiative to work closely with construction companies and building material suppliers across the region. "We are looking specifically at Cricket World Cup to make sure that leading up to it, during the event, and afterwards, all related bills are paid," said Clarke.
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