 | Credit info goes online
20 July, 2011
Bangladesh Bank yesterday launched online services of its Credit Information Bureau (CIB) to provide quick reports to banks and non-bank financial institutions.
Atiur Rahman, the central bank governor, inaugurated the CIB's online services at an event at Ruposhi Bangla Hotel in Dhaka.
From now, the banks and financial institutions will get the CIB reports within five seconds compared to at least five days it had earlier needed to get the same information, said Rahman.
The UK-based Department for International Development (DFID) funded the project, with assistance from International Finance Corporation (IFC) office in Dhaka.
DFID provided $5.6 million to complete the project that began in May 2009 in an effort to provide online services on credit to the banking and other financial sectors.
The CIB report is mandatory for receiving Tk 50,000 in loans from banks. In case of farmers, the limit is Tk1 lakh, according to the central bank.
The financial regulator has registered the names of 11 lakh individual loan recipients and loan disbursement agencies in the CIB as of yesterday. The CIB reports of the listed individuals and agencies can be obtained immediately.
With financial assistance from the World Bank, the CIB was established with Bangladesh Bank in August 1992 for having existence of huge classified loan then.
Release link:http://www.thedailystar.net/newDesign/news-details.php?nid=194870
|
|
|
