Bangladesh Bank (BB) is introducing online Credit Information Bureau (CIB) reports tomorrow to ensure transparency in the credit reporting process and bar defaulters
from getting fresh loans through any loophole in the system.
BB Governor Dr Atiur Rahman will inaugurate the online service at 6 in the evening at Ruposhi Bangla Hotel, which will be attended by senior bankers, representatives of donor agencies and non-banking financial institutions (NBFIs).
The online system will bring an end to the manual, time consuming and cumbersome process of sharing the important credit information among banks and financial institutions.
All the 47 banks and 29 NBFIs of the country will be able to collect the online CIB reports from tomorrow. The banks and financial institutions would also be able to collect the CIB reports from the central bank physically if they want, the central bank officials said.
"This is a part of the continuous process of digitizing the central bank and the country's banking sector to ensure efficient, faster and transparent services to the people," Dr Rahman told BSS earlier.
He said the online service will make the CIB reports only a click away, which now takes five to seven days. The report,however, used to take at least three months before Dr Rahman was made the governor.
The Election Commission (EC) and other government organizations and agencies can also get necessary information to determine whether any particular person is a loan defaulter or not," he said, observing that this convenient and accurate information would help combat credit related corruption.
As per the existing provisions, outstanding loans worth at least Taka 50,000 are included in the CIB reporting system.
The CIB was set up on August 18, 1992 in the central bank aiming to improve credit risks and reduce the extent of default loan in the country's banking system.
Chief Election Commissioner (CEC) Dr ATM Shamsul Huda welcomed the central bank's new initiative and observed that the online CIB reports would help the commission to identify the loan defaulters and take prompt decision in canceling their nomination papers.
BB earlier introduced a number of automated services including automated clearing house, MIRC (magnetic ink readable cheque) and mobile phone banking to provide necessary banking services at the people's doorsteps and make the central bank a paperless organization.
News Source: BSS
No comments:
Post a Comment