The Bangladesh Bank has introduced comprehensive guidelines to regulate credit bureaus, aiming to improve the efficiency and reliability of credit information systems. The guidelines outline criteria for licensing credit bureaus and stress the importance of accurate credit data for informed lending decisions. Stringent operational standards, including data confidentiality and consumer protection measures, are mandated. The central bank will enforce strict oversight, ensuring compliance through audits and penalties for violations. By aligning with global best practices, the framework enhances the credibility of Bangladesh’s financial sector. Financial institutions and bureaus must adhere to specified timelines for compliance, with support provided by the central bank for a smooth transition.
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