Category FAQs Search : Credit Reporting Agencies
Question: What is the relationship between financial institutions and credit reporting agencies?
Answer: During the processing of a loan application, financial institutions will carry out a credit assessment of the borrower such as background checks from various sources, such as information provided by the credit reporting agencies like CTOS Data Systems Sdn. Bhd. (CTOS), FIS Data Reference Sdn Bhd. (FIS), Credit Bureau Malaysia Sdn. Bhd. (CBM), Dun & Bradstreet (Malaysia) Sdn Bhd (D&B) Basis Corporation Sdn Bhd and RAM Credit Information Sdn Bhd (RAMCI).The information provided through
credit report can help financial institutions in their evaluation process. Financial institutions may use all available information to help them make prudent decisions before granting credit.
(Source: Official Portal of Ministry of Finance, 24 Feb 2025)
Source Link: https://www.mof.gov.my/portal/pdf/bahagian/ppk/faq-en.pdf