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Global Credit Monitor or GCM
What is GCM?
GCM is the acronym for Global Credit Monitor, which is an international credit reporting system created by Dr. John K. Osiri for developing countries. This international credit system, also called Gaiyafirma, allows lending institutions to manage and update borrowers’ repayment information, as well as check the credit history of potential borrowers.
Who Can Use GCM?
Both lending institutions and individuals can use Gaiyafirma. Lending institutions can sign up for an account, which would allow them to upload, manage, and update borrowers’ information. Individuals can also sign up for an account whether or not they have a loan with a lending institution; however, they would not be able to upload, manage, or update any information.
What is a GCM Number?
Gaiyafirma assigns every borrower or individual a unique Global Credit Monitor (GCM) Number. This number cannot be changed once assigned. The GCM Number would appear on each borrower/individual account holder’s GCM Identification Card.
Is the GCM ID Card Free?
Yes. The GCM ID Card offered through Gaiyafirma is free. Once an account is created with the required information and photo, the account holder would be able to print an ID Card. All entries made by individuals would be verified by Gaiyafirma Staff.