KUALA LUMPUR, March 14 (Bernama) -- Bank Negara Malaysia (BNM) has encouraged the public to register into the online Central Credit Reference Information System (eCCRIS) to enable them to access the personal report of their credit standing at their convenience.
BNM introduced the eCCRIS on Jan 19, 2018 and reports could be accessed via the website at http://eccris.bnm.gov.my for free.
The bank's Director of Financial Surveillance Department, Qaiser Iskandar Anwaruddin, said the CCRIS report would show the financing and repayment history of a borrower with 75 participating financial institutions, including banks, insurers as well as Perbadanan Tabung Pendidikan Tinggi Nasional over the past 12 months.
"It does not provide an assessment of a borrower's credit standing. It is therefore a factual report and is not a blacklist," he said at media briefing on eCCRIS here today.
Qaiser said eCCRIS would allow the public to be on top of their finances as they were empowered to take charge of and improve their own credit standing, leading to more responsible financing decisions.
He said frequent checking of CCRIS reports would also help consumers detect fraudulent activities and prevent identity theft and in addition.
"With eCCRIS, users are able to lodge data verification requests directly to participating financial institutions to verify and correct any inaccuracies identified in their reports.
"The CCRIS is managed by the Credit Bureau of BNM and there are also private reporting agencies such as Credit Tip Off Service, Credit Bureau of Malaysia which were under the oversight of Credit Registrar," he said.
Meanwhile, Director of LINK and BNM offices, Datin Arlinq Ariff, said as of March 13 this year there were 45,350 registered users nationwide which was an average about 889 per day.
She said the feedback was so far positive and encouraging.
"Before accessing the website, individuals need to first walk in to BNM offices, or the Credit Counselling and Debt Management Agency's offices to register and verify their identity using MyKad and to register a valid mobile phone number where a six-digit personal identification number would be sent to them," she said.
She said BNM would also continue its promotion to reach out to public in various public events to enable them to easily register to eCCRIS.
Arlina said CCRIS reports were submitted and updated by participating financial institutions and not being done by BNM and usually on a monthly basis as such the updated status would take some time and, for example, loans, which had been settled, would have some lapsed before it disappeared from the report.
She said that the rejection of loans was not due to records in BNM as credit decisions were made fully by participating financial institutions depending on risk appetites.
"CCRIS reports are only available for individuals who owned the report, it would not be made available to any other parties such as employers unless with the present of the individuals concern," she said.
Arlina said that in case of death, then the family members, which needed to know the credit obligations of the deceased then, they would need to have letter of administration with all the legality being taken care of as BNM would not entertain requests by unauthorised people.