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Under the existing laws the banks and financial institutions are not permitted to extend new credit facilities or renew existing credit facilities to default borrowers. Also defaulters are not allowed to participate in parliamentary election, float shares in the capital market, qualify for directorship of banks/financial institutions, insurance companies and CIP (Commercially Important Person) status. In order to facilitate the banks and financial institutions to ascertain the full credit exposure of the borrowers/owners fully automated Credit Information Bureau was established in 1992. CIB collects credit related information from banks on monthly ( having outstanding balance of TK.10 million and above) and quarterly (having outstanding balance of TK. 50 thousand and above but below TK. 10 million) basis. Same informations are also collected from financial institutions (having outstanding balance of TK.50 thousand and above) on quarterly basis. The classified credit card having outstanding balance of TK.10 thousand and above are also collected on quarterly basis. On the basis of these collected data CIB data base is created and updated. On the basis of the data base CIB supply full credit exposure of the related borrowers/owners as per request of the banks/financial institutions on regular basis.
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