This has reference to your article regarding the Credit Reference Bureau (CRB) which will soon start operations in Rwanda. Such a move is definitely one in the right direction and will facilitate the evaluation of the credit-worthiness of borrowers in the country.
This will also facilitate the issuance of credit cards to those found credit worthy.
In India, too, we have the Credit Bureau India Limited (CBIL).However, please allow me to share with you that unless all member banks in Rwanda update CRB, not only when there is a default, but also when the borrower in default subsequently settles the relevant outstanding debt, the system will not be as effective as it should.
There are many cases in India where banks inform CBIL about outstanding defaults on loan and credit card payments, but very often they fail to update CBIL once the said outstanding dues have been paid or mutually settled with the concerned bank.
This leads to an unfair negative listing of the customer even after all dues have been settled.
The Reserve Bank of India has recently come out with a directive to all banks that once a customer has paid or mutually settled all outstanding dues; such a customer should no longer be considered as a defaulter for future credit evaluations.