Zimbabwe's Credit Reference Bureau to go live on Monday

The Credit Reference Bureau, a system which contains credit history report of a prospective borrower before granting credit is anticipated to go live on Monday, Reserve Bank of Zimbabwe John Mangudya has said.

This came after a Czech Republic credit checker, Creditinfo was in April last year awarded the tender by the apex bank to set up the system at a cost of $1,8 million with a view to improve credit risk management in the country's financial sector.

Mangudya told delegates at MEFMI that financial institutions must know the source of funds of their depositors in a bid to stamp out ills such as money laundering and funding of terrorism.