Advisory Meeting to Start the Second Phase of PCR

4 April 2019

Advisory Meeting to Start the Second Phase of PCRDubai – Mar 06, 2019, IFC conducted a meeting for starting the implementation of PCR second phase project to cover Utilities and Telecoms under PCR system. H.E. Mohammad Qaseem Rahimi, 2nd Deputy Governor of DAB, Said Aziz Sadat, DG of PCR, Ahmed Tawfick Rostom, Senior Financial Sector Specialist at WB, IFC consultants, Credit Info team, and PCR employees participated in the event at IFC’s regional office in Dubai.

At the beginning, IFC consultant introduced the program and presented the agenda. Later, Dr. Sadat, DG of PCR, briefed the status of PCR and highlighted the current challenges of the system that were noted and discussed by IFC and Credit Info.

This meeting was conducted for clearing technical and legal barriers to start the implementation of the second phase of PCR project by collecting credit data from Breshna. Referring to international best practice, the data from Utilities and Telecoms are being collected at the same time, therefore PCR suggested to start collection of credit data from both institutions together, which will also reduce the implementation cost. Thus, Credit Info agreed to prepare a questionnaire for Telecoms and submit it to IFC for further processing. In addition, Credit Info agreed to provide a comprehensive information for IFC regarding the project cost, duration, creation of new modules under PCR, and any other required information. Finally, Mr. Ahmed Rostom, senior financial sector specialist at WB fully supported PCR project and confirmed IDA’s support to PCR.