Last modified: 16/09/2021 02:04 PM
In order to assist the financial institutions in determining a borrower's credit-worthiness, the Brunei Darussalam Central Bank (BDCB) has, pursuant to Section 42A of the BDCB Order, 2010, established the Credit Bureau.
The Credit Bureau is a unit under the Regulatory and Supervision Department of BDCB. In September 2012, the Credit Bureau commenced its service to all licensed banks, finance companies and the Islamic Trust Fund in this country, who are data providers of the Credit Bureau. Subsequently, in September 2014, it launched the Self-Inquiry and Dispute Resolution (SIDR) service to the public.
The key function of the Credit Bureau is to collect factual credit information, such as credit cards, cars, home, personal and education financing, from its data providers. The Credit Bureau then compiles and consolidates the information and present them in the form of a credit report.
NOTE: The Credit Bureau of BDCB DOES NOT APPROVE NOR REJECT a borrower's loan application. It also DOES NOT express any opinion, suggestions or recommendation about the credit-worthiness of the borrower in the credit report. Credit decisions are entirely made by the financial institutions according to their internal risk assessment policies.
Impacts to lenders:
Impacts to borrowers:
All licensed banks, finance companies and Islamic Trust Funds in Brunei Darussalam.
Utility and Telecom Data Providers:
Utility data providers who submit "credit-like" services, particularly, telecom and utility companies.
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