CBM announcement – Credit bureau

Per announcement from CBM dated 17 May 2018:

“The Central Bank of Myanmar has issued a business license to Myanmar Credit Bureau Limited on 17 May 2018 to establish a credit bureau in the Republic of the Union of Myanmar.

Myanmar Credit Bureau Limited may collect information regarding the repayment capacity and other related information on the individuals or organizations that obtain services from banks, non-banking financial institutions and other financial institutions and share the information with the loan providing organizations.

By establishing a credit bureau, banks, non-banking financial institutions and other financial institutions will be able to reduce the dependence on such a system where a loan is provided in exchange for collateral. Moreover, small and medium-sized enterprises will have more opportunities to obtain a loan if their credit worthiness can be evaluated by means of this information (provided by a credit bureau).”