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Romanian Credit Brokers Association to officially start activity on July 1

The Romanian Credit Brokers Association (ARBC), the first professional association of Romanian loan brokerage firms, will officially start activity on July 1, 2008; the purpose of the new entity is to regulate the local credit brokerage industry and promote the professional interests of its members.

Alongside Kiwi Finance - initiator of the establishment of this association - another seven loan brokerage firms act as founder members: DBSol Consulting, Perfect Finance (Credit Zone), Finzoom Financial Services, Rapid Finance Consult, International Brokers, Easy Credit Invest and Creditlink. 'We consider that the establishment of this association was absolutely necessary in order to confer legitimacy to the activity of credit broker both before the clients and potential partners. Romanian banking brokerage undergoes continuous development and the establishment of this association meets the increasingly mature demand of the local financial market,' ARBC president Anca Bidian told a press conference on Wednesday The goals of the association consist in promoting the professional interests of its members with a view to regulating the local credit brokerage industry and the profession of credit broker, the establishment of a Code of Ethics of this industry, organizing and ensuring dialogue with others - state authorities, public institutions, NGOs, Romanian judicial persons and individuals - observance of the professional ethics and loyal competition, supporting association members in training their owns staff, studying the issues of interest for credit brokers and briefing members on all these aspects Credits brokered in 2007 by ARBC members totaled 222.785 million euro. According to ARBC estimations, only 5 pct of the total loans disbursed to the population are arranged by credit brokers, but this share will rise to 7 - 8 pct in 2009 and to 15 pct in four years, said ARBC president Anca Bidian. Sursa: http://www.rompress.ro

Tags: credit association members brokerage activity brokers romanian euro

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