The Bank of Ghana would license the first Credit Reference Bureau (CRB) by the first quarter of 2008. The credit reference bureau would make it easier for all banks to have access to credit data of individuals, firms and entities and prevent credit defaulters from accessing new loans at different banks. Doctor Mahamudu Bawumia, second Deputy Governor of the Bank of Ghana (BOG) disclosed this at the opening of the Takoradi branch of the International Commercial Bank (ICB) on Friday. "The BOG awaits the passage of the Borrowers and Lenders Bill (BLB) next year, which will allow banks to enforce collateral as well as live up to responsibilities to borrowers" he added. Dr. Bawumia said the CRB would reduce the risks faced by banks and this would also help reduce interest rate spread. He said the Financial Soundness Indicators (FSIs) of the banking sector have seen positive developments and has thus improved the quality of loans granted by the banks. "The high non-performing loans have reduced from 22.7 percent in December 2002 to six point one in September 2007. Mr Abdulai Alhassan, Acting General Manager in charge of Finance and Administration said the bank since its inception in 1996 has not charged any commission on current account holders. He said the bank would continue to expand and bring banking to the doorstep of Ghanaians.Source: GNA