CIB means Credit Information Bureau. With a view to strengthening credit discipline and streamlining all sorts of data in a systematic way for formulation of monetary, economic and credit policy. A full fledged CIB was established in BB on 18/08/1992. Full particulars of all borrowers and guarantors (individual/firms/company) of all banks and NBFI in Bangladesh and whose outstanding balance is Tk.
50000 and above and defaulter credit card borrower of Tk 10000 and above are maintaining in the CIB
department.
In Bangladesh there is loan default culture exists. At present 10% amount of loan is classified. This type of loan is called non-performing.to arrest the worst situation of default loan, BB has taken some measures. CIB is one of them. Before sanctioning of any loan (and other purposes also) clean report of the borrower and guarantors is compulsory to obtain for the banking and NBFIs. So, there is no possibility of concealment of fact by any bad elements. As a result old bad borrowers are not getting fresh loan resulting reduction in bad loans. Defaulter borrowers will not be eligible to participate in the parliament election, be a CIP, be a director in a bank or NBFI, joint venture entrepreneur, member of stock exchange etc.
The users of CIB are
I. Bank
II. NBFI
III. Ministry of Industry, commerce and finance
IV. Election commission
V. Security and exchange commission
VI. Parliament
VII. Board of investment
VIII. National Board of Revenue