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| The Institute of Credit Management
Kenya (ICM (K)) is a professional forum bringing together stake
holders in the credit industry. The institute's aim is to raise
professional standards in Credit management and to increase awareness
of its importance as a crucial management function with vital role in
improving marketing profitability and cash flow. The institute plays a
leading role providing appropriate conditional guidelines to those
wishing to pursue a career in credit management. We at the Institute
of Credit Management have realized that there is a vacuum between the
marketing and the finance team, which need to be filled by the
professional credit team. A very vital role to be played by the
institute is to train professional Credit Managers to be able to
conclude the business, which is being done by the marketing team as
the finance team account for what is in the Bank |
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Our Vision |
The creation of a trade industry
forum is always a welcome development amongst most if not all
professionals. In the case of Kenya the incorporation of ICM (K) has
been particularly rewarding as institutes of Credit Management in
their many varied forms exist in almost every country of the world,
hence it was relatively easy to get started without too many false
starts. For this ICM (K) is particularly grateful for the valuable
assistance accorded to it by the Institute of Credit Management
(United Kingdom) especially the advice and encouragement received from
the Director General's office via Kate Babbington Brown.
We at the institute are well aware that we have to cater to a diverse
group of members who have divergent views on how the credit industry
should operate. For instance, the credit issuing community would like
to maximize returns-on their advances by charging compound interest
rates secured with fixed assets securities. The credit consuming
community on the Other hand i.e. business people and households would
like to see simple interest charged on reducing balances and
non-conventional securities accepted as collateral. The government on
the other hand is a regulator through its fiscal and monetary
policies. It is however viewed as a major competitor for scarce credit
via its Treasury Bills operations.
Furthermore there are new developments in the industry, Credit
Reference Bureaus, Collection Agencies and Credit Rating Agencies. In
short, our role as a substantial repository of data and information on
the credit industry puts us in a unique position to cater for the
various demands of our stake holders in an objective and professional
manner.
The institute of Credit management (K) will in effect be a clearing
house and information center on educational research in credit
management investment in the credit industry as well as a forum for
practitioners to get together to articulate and end policy guidelines
on the credit industry. |
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Our Objectives |
- To develop the institutes role as
the focus of the expertise for all matters relating to Credit
Management.
- To increase awareness of
importance of Credit Management as a vital management function
throughout all sectors of the economy and with the public in
generally.
- To formulate and execute
strategies to develop and promote responsible credit practices in
Kenya and the region.
- To promote and uphold the highest
standards of business ethics and professional conduct.
- To implement a curricula for the
study of Credit Management and to facilitate further research in an
effort to improve and match other credit Institutions around the
world.
- To address matters relating to
discipline among all stake holders and to act accordingly to the
performance of the proceeding functions.
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