Have you ever wondered how a bank loan or a credit card gets approved or rejected? It’s always good to know what or how the Central Credit Reference Information System ( CCRIS )— functions in the rating of our credit health. CCRIS is one of the major individual reports used in determining whether one is eligible to borrow from financial institutions regulated by Bank Negara Malaysia (BNM).
CCRIS collects and holds credit information of borrowers. It supplies the information back to financial institutions. The Credit Bureau was established so that financial institutions can make faster and better informed lending decisions.
A CCRIS report allows you to view and monitor your personal credit situation. The information in the report is used by financial institutions such as banks to form an opinion of the credit histories of potential or current borrowers when they make lending decisions.
Who Could Request for the Credit Report?
• Financial institutions upon any credit facility application;
• Any individual for his own credit report; and
• Any company for its own credit report.
Application for credit report for individual and company could only be made once in 3 months from the last date of request.
The Credit Bureau obtains this information from lenders/financial institutions. This includes all licensed commercial banks, Islamic banks, finance companies, investment banks and several other financial institutions under the purview of BNM. In fact, the bureau is legally empowered to collect credit information about you from these financial institutions.
– Affin Bank Berhad
– Alliance Bank Malaysia Berhad
– AmBank Berhad
– BNP Paribas Malaysia Bhd.
– Bangkok Bank Berhad
– Bank of America Malaysia Berhad
– Bank of China (Malaysia) Berhad
– Bank of Tokyo-Mitsubishi (Malaysia) Berhad
– CIMB Bank Berhad
– Citibank Berhad
– Deutsche Bank (Malaysia) Berhad
– HSBC Bank Malaysia Berhad
– Hong Leong Bank Berhad
– Industrial and Commercial Bank of China (M) Berhad
– JP Morgan Chase Bank (Malaysia) Berhad
– Malayan Banking Berhad
– OCBC Bank (Malaysia) Berhad
– Public Bank Berhad
– RHB Bank Berhad
– Standard Chartered Bank Malaysia Berhad
– Sumitomo Mitsui Banking Corporation
– The Bank of Nova Scotia Berhad
– The Royal Bank of Scotland Berhad
– United Overseas Bank (Malaysia) Berhad
– Affin Islamic Bank Berhad
– Al Rahji Banking and Investment Corporation (Malaysia) Berhad
– Alliance Islamic Bank Berhad
– AmIslamic Bank Berhad
– Asian Finance Bank Berhad
– Bank Islam Malaysia Berhad
– Bank Muamalat Malaysia Berhad
– CIMB Islamic Bank Berhad
– HSBC Amanah Malaysia Berhad
– Hong Leong Islamic Bank Berhad
– Kuwait Finance House (Malaysia) Berhad
– Maybank Islamic Berhad
– OCBC Al-Amin Bank Berhad
– Public Islamic Bank Berhad
– RHB Islamic Bank Berhad
– Standard Chartered Saadiq Berhad
– Affin Investment Bank Berhad
– Alliance Investment Bank Berhad
– AmInvestment Bank Berhad
– CIMB Investment Bank Berhad
– ECM Libra Investment Bank Berhad
– Hong Leong Investment Bank Berhad
– HwangDBS Investment Bank Berhad
– KAF Investment Bank Berhad
– Kenanga Investment Bank Berhad
– MIDF Amanah Investment Bank Berhad
– MIMB Investment Bank Berhad
– Maybank Investment Bank Berhad (previously known as Aseambankers)
– Public Investment Bank Berhad
– RHB Investment Bank Berhad
– Bank Kerjasama Rakyat Malaysia Berhad
– Bank Pembangunan Malaysia Berhad
– Bank Pertanian Malaysia Berhad (Agro Bank)
– Bank Perusahaan Kecil Dan Sederhana Berhad (SME Bank)
– Bank Simpanan Nasional
– Borneo Development Corporation ( Sabah ) Berhad
– Borneo Development Corporation ( Sarawak ) Berhad
– Credit Guarantee Corporation Malaysia Berhad
– Export-Import Bank ( Malaysia ) Berhad
– Malaysian Industrial Development Finance Berhad
– Sabah Development Bank Berhad
– American International Assurance Berhad
– Danajamin Nasional Berhad
– ING Insurance Berhad
– Malaysia Alliance Assurance Berhad
Payment Instrument Issuers
– AEON Credit Service (M) Sdn Bhd
– Diners Club (Malaysia) Sdn Bhd
– MBF Cards ( Malaysia ) Sdn Bhd
– Prokhas Sdn Bhd
– Toyota Capital Malaysia Sdn Bhd
– Malaysia Building Society Berhad
So, if you apply for a credit facility with any financial institution, your CCRIS report will be taken into account. However, if your credit application has been denied by the bank, for instance, that does not mean that you have been blacklisted by the bureau. The Credit Bureau merely reports and does not express any opinion about the information in your credit report or your creditworthiness. Also in all fairness, information on rejected credit applications is not provided in credit reports so that one financial institution will not be prejudiced by the decision of another financial institution.
The decision to approve or decline an application is up to the financial institution as it uses whatever information available to it, be it credit reports furnished by the Credit Bureau, information furnished by the applicant in credit application documents as well as other supporting documents. However, just because one financial institution turns down your loan application, for instance, this does not mean other financial institutions will do the same as the financial institutions’ respective policies may vary based on their risk appetites. Your CCRIS information could in fact be viewed differently by each financial institution.
Typically, the type of borrower information which is reported by financial institutions to the Credit Bureau include essential identification data such as name, identification number and address, as well as relevant data on the credit facilities given to the borrower, such as the type of credit facility (example: credit cards, overdrafts, trade facilities, hire purchase and housing loans), conduct of facility and credit limit.
Some people may be informed that they have been blacklisted or have a bad record in their CCRIS report. If it is due to amounts in arrears, the borrower will need to settle the amounts with his/her respective financial institutions. Once the accounts of the borrower have been regularized, it will be updated by the financial institutions into the CCRIS system. Bear in mind that the information on the number of installments for the past 12 months will be shown in the borrower’s credit report.
For more information on obtaining your CCRIS report, please contact BNMTELELINK (email@example.com) or make a personal visit to the Laman Informasi Nasihat dan Khidmat at Bank Negara Malaysia’s headquarters in Kuala Lumpur. The report can only be obtained by the person himself/herself and by or for no one else.