Myanmar Credit Bureau Ltd will start providing the credit bureau service at the end of 2019.

On December 10, Myanmar Credit Bureau Ltd signed the agreement with Equifax New Zealand Information Services and Solutions Limited for credit bureau service.

Zaw Lin, President of Myanmar Credit Bureau Ltd said: “This is the first step to implement Myanmar’s first Credit Bureau. We signed Credit Bureau Software License and the installation and consultancy agreements today. We will provide credit bureau service within 9 to 12 months since the contract signing.”

The credit bureau has kept the information about money lenders and borrowers. The company will provide service whether or not the borrowers follow the loan rules and repay loan in a correct manner. Those who have got the highest mark designated by the Credit Bureau an easily take loans with guarantee.

Responsible and accountable individuals or small and medium-sized enterprises can take soft loans easily and smoothly. Money lenders (banks) can make better decisions about loans in the real time. They can protest their risks of loss and provide better services to its customers.

Myanmar Credit Bureau Ltd is established with a 60-per-cent stake by MB Investment Ltd built with members of Myanmar Banks Association and the rest by Asia Credit Bureau  Holding Company.