CIB launches new system to ease information sharing

The Credit Information Bureau (CIB) has come up with a new system, Blade 2.0, through which they will provide information on utility bills of a borrower to lending financial institutions.

The utility bills include telephone, electricity, water and insurance.

Earlier, CIB provided only credit history of borrowers to the financial institutions.

Finance minister, Namgay Dorji said the system is expected to benefit financial institutions and their clients.

CIB’s Chairman, Pem Tshering said the system will allow faster information to all the banks.

“So, this will streamline and strengthen the whole banking and financial system and will have better information.”

CIB’s ICT Officer, Sonam Chophel said when a person avails loan, the amount which the particular person will have to pay in a month for  electricity and others bill will be totaled and a report will be provided to the financial institutions.

Currently, the Credit Information Bureau of Bhutan Limited has nine financial institutions as members.

CIB is a registered and licensed company with RMA holding Nu 11 M as total capital.

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