Credit Information Bureau email@example.com
|Name & Designation||Telephone||Fax|
|Kazi Sayedur RahmanDeputy Governor|
|A.K.M.Fazlul Haque MiaExecutive Director (Statistics)|
|Md. Anis Ur RahmanGeneral Manager (Statistics)|
Credit Information Bureau (CIB) was set up in Bangladesh Bank (BB) on 18 August 1992 with the objective of minimizing the extent of default loans. CIB has been providing its online services since 19 July, 2011. The New CIB Online Solution developed by BB's internal resources started its live operation on 01 October, 2015. With the adoption of highly sophisticated ICT facilities the performance of the CIB services has been improved significantly in terms of efficiency and quality. The Online system of CIB is playing an important role to maintain a risk free lending procedure in the banking industry.
Recently, Credit Information Bureau of Bangladesh Bank undertakes several initiatives with a view to increasing the score of 'Depth of Credit Information Index' which is a part of 'Getting Credit' of Doing Business Report prepared by World Bank for achieving higher ranking position by Bangladesh amongst all other countries in the world. To this end, CIB already fulfilled the World Bank's condition with regard to the CIB data coverage by resetting the reporting threshold of data submission at TK. 1(one). Now two years historical data are distributed to the CIB reports of clients.
According to the instruction of the former Honorable Finance Minister and with the approval of Governor, Bangladesh Bank on 24 November, 2016, CIB started to develop a Collateral Information System in order to prepare a Collateral Database of immovable assets. In this database the information on collateral that is mortgage against sanctioned loans/advances of the banking/non-banking financial institutions will be stored. The main purposes of developing such a system are to prevent fraud/forgery arises from mortgaging unlawfully the same property against new loans sanctioned by Banks/FIs.
Another initiative has been taken to establish Credit Information Bureau for Micro Finance Institutions (MF-CIB). For this purpose an MoU has been signed between Microcredit Regulatory Authority (MRA) and Bangladesh Bank. Recently, System Requirement Specification (SRS) has been finalized by joint collaboration of MRA and Bangladesh Bank. Now, CIB is taking necessary steps to develop the system in this regard.
- Collection of credit information (including credit cards irrespective of positive or negative data) having outstanding balance of Tk. 1(one) and above from all scheduled banks and non-bank financial institutions.
- Prepare a database after validating and processing of that credit information.
- Update credit information (contract data) of borrowers according to demand by Banks/NBFIs during interim period of monthly batch contributions.
- Correct credit information (subject data) of borrowers according to the demand by Banks/NBFIs.
- Provide default information on bank loans of the candidates who participate in National/Local Elections to the election commission whenever it seeks.
- Provide credit information to the national Parliament, different ministries, different government bodies and different departments of BB.
- Implement stay order passed by Honorable Court on borrowers, owners/directors/guarantors.
- Development of collateral information system with a view to preparing collateral database which is isolated from the existing CIB online system.
- Collection of credit information on immovable collaterals such as land, flat, building, capital machineries that is mortgaged against sanctioned loans/advances by different banks/FIs.
- Supervise/monitor the practices of stakeholders in relation to the services offered by CIB.
- Credit Information Bureau is assisting Microcredit Regulatory Authority (MRA) to establish a new credit information bureau (MF-CIB) for Micro-Finance Institutions.