ECIB hosts credit analysis and management workshop in Dominica

first_img 22 Views   no discussions Share Sharing is caring! Share Tweetcenter_img LocalNews ECIB hosts credit analysis and management workshop in Dominica by: – July 9, 2012 Share Resident Representative of the Eastern Caribbean Central Bank Agency Office, Edmund Robinson (centre) with CEO of the National Cooperative Credit Union Limited, Aylmer Irish (right). A four day credit analysis and management workshop organized by the Eastern Caribbean Institute of Bankers (ECIB) got on the way at the Public Service Union on Monday.According to resident representative of the Eastern Caribbean Central Bank Agency Office, Edmund Robinson, the workshop is intended to provide banking and credit officers with the “rudiments” of the “theory and practice” of sound lending along with “techniques” to manage delinquent accounts.Robinson said the workshop comes at a “critical” juncture when persons are still “struggling” with the effects of the financial crisis which began in 2008. The workshop will cover topics like “consumer lending” and participants will also learn how to detect “problem” loans early and identify appropriate solutions. However, Robinson said, while the workshop will address financial institutions and the personal development of its staff, there has been a concerted effort to “enhance the financial literacy” of the public.For the past ten years the monetary council of the Eastern Caribbean Central Bank has declared the month of October as financial information month and during this year’s observation, emphasis will be placed on “managing credit, record keeping, risk management and protecting ones asset and best business practices”.Workshop participants“Financial education impacts the wellbeing of every individual as well as the economic and social fabric of our communities.” Robinson said.Meantime Chief Executive Officer of the National Cooperative Credit Union Limited Aylmer Irish highlighted the necessity for financial institutions to understand the loan and collections processes.“A significant amount of a financial institution’s revenue comes from the granting of loans and therefore it is absolutely necessary that there is a comprehensive understanding of the underwriting process, and the collections process must be timely and effective, but it is even more important to understand the importance of risk analysis because the objective must be to minimize risk such as credit risk”.The workshop is facilitated by Patrick Thomas and Louis Parris and will come to close on Thursday.Dominica Vibes Newslast_img

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