Central Bank tenders for credit union review body

The Central Bank is planning a review of the country’s credit unions across a range of areas including an assessment of the quality of their loan books and value of investments.

The bank’s Registry of Credit Unions (RCU) is looking to supplement its internal supervisory capabilities and has tendered for a third party to contribute to its ongoing supervision of the sector.

It’s the first time since 2009 that such a framework to extend the Central Bank’s range of expertise in this sector has been undertaken.