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Credit rating revamp ‘silliest decision ever’

May 12, 2016

Australian media have waded into the Data Bureau controversy describing the decision as ‘one of the silliest decisions ever’ by Fiji.

The Aussies have taken an interest because ANZ and Westpac have come under direct attack by Aiyaz Sayed Khaiyum for “their perfectly reasonable decision to back a local credit reporting agency called Data Bureau.”

A columnist for the leading Australian Financial Review says “A well-functioning company operating with the implicit support of the Reserve Bank of Fiji has been closed for no cogent reason.”

The paper goes on to give the history and credentials of Data Bureau, saying international companies will be hurt by the decision.

“Data Bureau’s sudden closure without consultation or warning does not augur well for those doing business in Fiji or with Fijian companies.

“As of last week no Australian exporter to Fiji has been able to conduct a credit check on a Fiji buyer of their goods and services. This service was used by exporters to Fiji.

Source – c4.5; posted by Rusi Varani for SWM

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