Organisation to provide credit info set up

BY A STAFF REPORTER

Kathmandu, Aug 18: Finance Minister Dr. Ram Sharan Mahat yesterday inaugurated Business Information Services Nepal Pvt. Ltd. (BIS-Nepal), an organisation that aims at providing customers cross border and domestic commercial credit reports and services.

"BIS-Nepal intends to help individual and institutional investors to frame investment policies by properly identifying the safety or risk factor of investment through rating exercise," its Chairman Bishwambher Pyakuryal told the inaugural ceremony here today. "Besides providing services of credit information, BIS-Nepal also aims at helping banks and term lending institutions to use ratings as cut-off points for limiting exposures."

The organisation also signed a Memorandum of Understanding with Dun and Bradstreet Corporation to work as its business partner. D&B is a leading business information services provider working in over 200 countries through its network of 300 offices.

The opening of BIS-Nepal from the private sector and its collaboration with D&B may be a worthwhile venture in financial sector front to support materialise government’s financial sector policy decisions, Pyakuryal said.

Manoranjan Raman Sharma is the founding member of BIS-Nepal while its advisory committee members include economist Dr. Madan Kumar Dahal, management expert Dr. Minendra Rijal, industrialist Pradeep Kumar Shrestha and senior corporate lawyer Anoop Raj Sharma.

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