Cameroon: Microfinance Loan Delinquency - Prevention Bureau Goes Operational
The newly created Risk Prevention Bureau for Microfinance Institutions (CREMF) has been launched. It was launched on June 21 by the Minister of Finance, Louis Paul Motaze who doubles as President of the National Credit Council.
The new institution is a brainchild of the Council, put in place to help microfinance institutions make informed choices with regards to issuing loans to their respective customers. CREMF collects and disseminates information on the worthiness of customers of microfinance institution. This means every institution will be able to consult the system whenever a customer applies for loans before deciding whether or not to grant the request.