MBSB gains access to CCRIS

KUALA LUMPUR (Jan 9, 2012): Malaysia Building Society Bhd (MBSB) announced today Bank Negara Malaysia's (BNM) approval for the company to participate in its Central Credit Reference Information System (CCRIS) effective this month.

Source from (The Sun Daily): http://www.thesundaily.my/news/261586
Published: January 10, 2012

CCRIS is an online database of borrowers' credit information as collected by the central bank's Credit Bureau Department from participating lending institutions.

This information is then furnished back to the institutions to assist them in making informed decisions on credit applications.

In a statement, MBSB CEO Datuk Ahmad Zaini Othman said inclusion in CCRIS bodes well with the good intentions of the central bank's new Guidelines on Responsible Finance and will help to enhance MBSB's credit risk management.

"I believe the finance industry will welcome such news too as any borrowings taken from MBSB will appear in the borrower's credit report," he said.

Ahmad Zaini said MBSB is able to realise its corporate objectives, especially in assessing and approving good quality loans, which is at par with the practice of other leading financial institutions.

Participating lending institutions at present include commercial banks, Islamic banks, finance companies, merchant banks and rehabilitation institutions.

Ahmas Zaini said moving forward, MBSB plans to continue to grow its retail loan assets via personal financing and home mortgage products, as well as introduce a new retail product, auto finance, next month.

He said MBSB will continue to capitalise on its strengths as a small financial institution in comparison to its peers to enable it to thrive in a highly competititve environment.

These strengths include agile decision-making, personalised customer service, especially for corporate clients, and fast turnaround time, he added. — Bernama