This topic covers two aspects of access to finance—the strength of credit reporting systems and the effectiveness of collateral and bankruptcy laws in facilitating lending. The most recent round of data collection for the project was completed in June 2017. See the methodology for more information.

Doing Business Reforms


Twenty-four economies implemented reforms improving their credit information systems in 2016/17. The most common feature of reform was the introduction of new credit bureaus and registries to improve the sharing of credit information. Malawi made the most improvement in credit reporting by operationalizing a new credit bureau, Credit Data CRB, in July 2016. The credit bureau distributes positive and negative credit information on both firms and individuals and borrowers have a legally-guaranteed right to inspect their own data. Cameroon, Indonesia, Iraq, Jordan and Slovenia all established a new credit bureau or registry in 2016/17. Azerbaijan, Djibouti and Myanmar improved their regulatory framework for credit reporting, enabling the creation of new credit bureaus in the near future.

Economies in West Africa also implemented reforms in 2016/17 to improve their credit reporting systems. All West African Economic and Monetary Union (WAEMU) member states have now formally adopted the Uniform Law on the Regulation of Credit Information Bureaus. WAEMU’s regional credit bureau, Creditinfo VoLo, began operations in Burkina Faso, Guinea-Bissau and Togo in early 2017. These economies joined Côte d’Ivoire, Mali, Niger and Senegal, where Creditinfo VoLo was launched in 2016 (figure 3.5).

Elsewhere, economies adopted global good practices in credit reporting. The credit bureaus in Nigeria, Qatar and the United Arab Emirates began offering credit scores to their data users as a value-added service. Improvements were also made in the distribution of data from sources other than financial institutions. In Bhutan, two utility companies began submitting positive and negative information on consumer accounts to the credit bureau. In Kenya, public utility companies and savings and credit cooperative organizations are now required to share credit information. In the Islamic Republic of Iran, a vehicle dealership began sharing information on credit-based transactions with the credit bureau.

In 2016/17, 18 economies made it easier for businesses to obtain credit by modifying legislation to encourage the use of moveable property as collateral. The most common feature of reform included improvements in the legislative framework for secured transactions encompassing functional equivalents to security interests and creating modern, searchable collateral registries which are accessible on-line for the registration, modification and cancelation of security interests. West Bank and Gaza made the most noteworthy improvement in 2016/17 by adopting a secured transactions law in 2016 that establishes a modern collateral registry and allows a general description of present and future assets used as security interests. The new rules also establish priority for secured creditors outside insolvency and permit out-of-court enforcement.

Belarus created the Registry of Encumbrances on Movable Property in 2016 to record, store and provide information on security interests in movable assets. Mongolia’s Law on Movable and Intangible Property Pledges, which entered into force in March 2017, regulates the assignment of receivables, financial leases and retention-of-title sales, requiring their registration with the collateral registry. Similarly, Brunei Darussalam, the Kyrgyz Republic, Mongolia, Malaysia, Nepal, Nigeria, Russia, Samoa, Turkey and Zambia introduced new laws establishing modern collateral registries.



= Doing Business reform making it easier to do business. = Change making it more difficult to do business.