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The main objectives of the Association are threefold.
1. Credit Management Information
System Provider
Creditors need reliable and up-to-date information
pertaining to credit management to analyse and continuously
monitor the credit worthiness of their existing debtors and
any potential credit applicants in a proactive manner.
MACM strives to meet the needs of its Members by providing
effective and timely credit management information to ensure
that it Members get the following benefits:
• Minimising the risk associated with credit
• Keeping the credit management cost low
• Avoiding bad debts
• Being consistent in credit decisions
• Controlling of credit management processes
• Monitoring Debtors on a daily basis
• Increasing performance
• Enhancing long-term customer relationship, thus improving customer
retention
• Identifying financially solvent prospects, turning credit risk into
credit rewards
• Maintaining sound cash flow
• Sustaining profitability
2. Credit Management Education
Despite ‘Debtors’ represent one of the key assets in the
balance sheets of the majority of organisations trading on
credit, the Maltese labour market lacks trained people in
the field of credit management.
To enhance the role of the Credit Profession in Malta and to
improve the managing of credit in general, MACM organizes a
number of workshops, seminars and conferences to its
members. It also takes part in activities organized by other
institutions both locally and abroad.
In addition, MACM is the accredited Training Centre of the
Institute of Credit Management (UK) to offer credit
management education programmes in Malta, leading to
Certificate / Diploma in Credit Management.
3. Lobby Group
Various legislative issues were addressed by MACM and
have been discussed with politicians from both sides of the
Maltese political sphere and with other relative
professional bodies, in order to promote changes to
legislation and to lobby for adequate enforcement of such
legislation accordingly.
The various legislative areas discussed were:
- The Data Protection Act
- The Companies Act (Company Recovery Procedure)
- The Business Promotions Act
- The Commercial Code as regards Negotiable Instruments
- The Banking Act
- The Late Payment in Commercial Transaction Directive
- The Consumer Credit Directive
- Dishonoured Cheques Regulation
- SEPA
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