The first conference on the Credit Bureau in Egypt was launched by the Al Mal Conferences, Sunday the 26th of November 2006. This conference aimed at highlighting the importance of a sound credit information system that is being developed through the Credit Bureau initiative launched by the Central Bank of Egypt and adopted by 27 Banks and the Social Fund for Development SFD.

This initiative which tracks the credit history of individuals and small and mid-size enterprises to support decision-making is the first of its kind to operate in Egypt. This will have its impact on Egypt's economic development which should expand under a powerful and efficient financial system that meets the ambition of the retail and business community as a whole.

Through the conference, a group of financial experts have presented the efforts exerted so far on the credit bureau initiative and on how various economic sectors can benefit from the introduction of this mechanism.

Additional discussions dealt with the peculiarities of the Egyptian local market for credit bureau services.

And it consisted of six Discussion panels and is as follow:

1.     International Experience with Credit Bureaus and Way Forward for Egypt.

This consists of:

·         Speech by CBE Governor's Senior Advisor, Mr. Mohamed Abd El Aziz on the Credit Bureau initiative as part of the ongoing banking reforms.

·         International experience and lessons for Egypt.

·         Obstacles to consumer credit in the Egyptian market and the role of the Credit Bureau by officials from three local banks (example CIB-Egypt, NSGB, NBE or Banque Misr).

a.     Mr. Mahmoud Abd El Aziz (CBE Governor's senior Advisor, Speech of the Governor)

b.     Mr. Mohammad Barakat (Chairman, Federation of Egyptian Banks)

c.     Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

d.     Mr. Mohamed Refaat (Managing Director "The Egyptian Credit Bureau")

e.     N. Manjunath (President Africa , D & B)

f.      Panelists:

                                                      i.        Mr. Hussein Abdul Aziz (Chairman, National Bank of Egypt)

                                                     ii.        Mr. Hisham Ezz El Arab (Chairman & Managing Director, CIB-Egypt)

g.     Moderator:

                                                      i.        Mr. Mohammad Kafafi (Chairman, The Egyptian Credit Bureau).

2.     Credit Bureau and Risk Management.

This consists of:

·         The concept of risk management as an improvement tool for banking services.

·         Presentation by IFC experts on Credit Bureau model which qualitatively transformed the retail banking into the main activity of international banks.

·         Presentation by representatives from local banks on risk management impact on their activities and financials with a parallel presentation on risks and the role expected from the credit Bureau.

a.     Ms. Sahar El Damati (Head of Risk Management, HSBC)

b.     Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

c.     Mr. Daniel Dib (Fair Isaac Representative in the middle-east)

d.     Panelists:

                                                      i.        Mr. Yasser Islam Hassan (Managing Director, Al Watany Bank of Egypt)

e.     Moderator:

                                                      i.        Mr. Mahmoud Abd El Latif (Chairman, Alex-San Paolo Bank)

3.     Improving the Performance of Consumer Credit.

This consists of:

·         Consumer credit and retail services as drivers of growth.

·         Electronic cards issues and transformation into a cashless society.

·         Inter-related services and information support efficiency (networking systems)

a.     Mr. Mohammad Kafafi (Deputy Chairman, Banque Misr)

b.     Panelists:

                                                      i.        Mr. Tarek El Housseiny (Deputy Chairman, Visa International)

                                                     ii.        Mr. Salah Hatata (Regional Director, Diner's Club)

                                                    iii.        Ms. Hoda Choucri (Managing Director, Mediterranean Smart Card)

                                                    iv.        Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

c.     Moderators:

                                                      i.        Mr. Mohamed Baraka (Editorial Manager, Al Mal Newspaper)

4.     Improving the Performance of Consumer Credit.

This consists of:

·         Rating of clients and drawing the service sector into overall credit system.

·         Credit Bureau and Small Enterprise Promotion.

·         The role of Credit Bureau in the insurance service.

a.     Panelists:

                                                      i.        Mr. Yehia El Agami (General Director for small Enterprise Development Organization)

                                                     ii.        Ms. Dorra Fiani (Chairperson and CEO Fiani & Partners / Kompass Egypt).

                                                    iii.        Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

b.     Moderator:

                                                      i.        Mr. Alaa Samaha (Managing Director, Bloom Bank Egypt)

5.     Improving the Performance of Consumer Credit.

This consists of:

·         Obstacles for mortgage finance in the local market and the role of the Credit Bureau in securing finance and its ability to energize the mortgage system.

·         The ability of the Credit Bureau to serve the mortgage industry.

a.     Dr. Mohamed Mohieldin (Minister of Investment)

b.     Panalists:

                                                      i.        Mr. Osama Saleh (Chairman, Mortgage Finance Authority)

                                                     ii.        Mr. Mohamed Ashmawy (Chairman, The United Bank)

                                                    iii.        Ms. Hala Bassiouni (Head of Egyptian Housing & Financial Co. (EHFC))

                                                    iv.        Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

c.     Moderator:

                                                      i.        Mr. Hazem Sherif (Editor-In-Chief, Al Mal Newspaper)

6.     Differentiating Between Corporate Credit Risk Assessment, Consumer Credit Scoring, and Rating of Financial Securities by Rating Agencies Including Securitized Portfolios.

This consists of:

·         Internal rating of loans at banks and Basel II - Corporate Credit Grading. Consumer credit scoring.

·         Rating of specific securities - Rating sovereign and corporate dept.

·         Rating of securitized issues such as CMOs.

a.     Mr. Sherif Raafat (Vice Chairman - Concord International Investment)

b.     Panelists:

                                                      i.        Dr. Hani Sarie El Din (Chairman, Capital Market Authority)

                                                     ii.        Mr. Hazem Moussa (General Manager And Founding Partner, Contact)

                                                    iii.        Mr. Stefano Stoppani (IFC Credit Bureau and Risk Management Advisor)

c.     Moderator:

                                                      i.        Mr. Mohamed Ashmawy (Chairman, The United Bank)

7.     Conclusion and Recommendations.

a.  Mr. Mohamed Kafafi (Chairman, The Egyptian Credit Bureau)