Traders To Add Juice To Credit Bureau Market As Information Providers. Rubis Jamaica Among First To Sign-Up

Rubis Energy Jamaica Limited announced via press advertisement Monday that it is now supplying two credit bureaus with information regarding clientele to whom it sells on credit, and would in turn be tapping them for credit reports to guide its business dealings.

Rubis Energy, which purchased the assets of Shell Jamaica nearly two years ago and has 53 gas stations in its network, said its arrangement with CRIF NM Assure Limited and Creditinfo Jamaica Limited began on October 6.

It is the first trader to announce its partnership with local credit bureaus, but Terrence Cooper, CEO of CRIF NM, says that side of the business, which is being facilitated by a recent amendment to the law is expected to lead to more of these arrangements.

The adjustment to the law in August expanded the categories of credit information suppliers, allowing trade manufacturers who provide credit to both share and access credit information.

Cooper says it not only opens up more business for bureaus to sell credit reports to a wider market, but it will also enrich their databases as more information suppliers sign up.

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