Karmasangsthan Bank gets access to BB’s CIB database

Karmasangsthan Bank has signed an agreement with Bangladesh Bank’s Credit Information Bureau (CIB) to gain access to its credit information database, a move expected to strengthen the bank’s credit risk assessment and improve the quality of its lending operations.

The agreement was signed on 9 November at the Jahangir Alam Conference Room at Bangladesh Bank’s head office in Dhaka.

Under the agreement, Karmasangsthan Bank will be able to verify and use loan-related information stored in the CIB database in accordance with prescribed rules and regulations.

The access will help the bank assess borrowers’ creditworthiness more effectively, make informed lending decisions and ensure greater transparency and accountability in loan operations.

Bangladesh Bank Deputy Governor Md Anis Ur Rahman attended the signing ceremony as the chief guest, while Executive Director (Statistics) Ashish Kumar Roy chaired the event.

Addressing the ceremony, Anis Ur Rahman said the agreement would enable Karmasangsthan Bank to verify borrowers’ credit information more effectively, strengthening its loan management and improving the quality of financial services.

He emphasised the importance of submitting accurate and updated information to the CIB database, ensuring proper use of credit information and complying with existing guidelines.

Ashish Kumar Roy stressed the need for accurate reporting and verification of information in the CIB database. He also underscored the importance of providing appropriate training to officials concerned to improve their data management capabilities.

Karmasangsthan Bank Managing Director Arun Kumar Chowdhury said access to the CIB database would make the bank’s lending operations more transparent, accountable and secure, while playing an important role in reducing credit risks.

He thanked Bangladesh Bank authorities for taking the initiative.

Earlier, in his welcome address, CIB Additional Director Shyamal Kumar Majumder outlined the bureau’s establishment, development and activities. He also highlighted the importance of submitting accurate information, verifying credit data and complying with existing regulations.

Bangladesh Bank Director Md Shafiqul Islam signed the agreement on behalf of the CIB, while Karmasangsthan Bank Managing Director Arun Kumar Chowdhury signed on behalf of his institution.

Bangladesh Bank Executive Directors, CIB Director Md Shafiqul Islam, Director Muhammad Mahfuzur Rahman Khan and senior officials from both institutions attended the ceremony.

The officials expressed hope that the agreement would strengthen Karmasangsthan Bank’s credit information management, improve governance in lending operations and reinforce institutional credit discipline.