Credit Bureau Singapore (CBS) has been re-appointed by the Ministry of Law (MinLaw) to continue as the designated operator of the Moneylenders Credit Bureau (MLCB) for a second consecutive term.
What this means for borrowers?
MLCB maintains borrowers’ loan and repayment records with licensed moneylenders in Singapore. This credit information helps licensed moneylenders assess borrower’s existing loan commitments and make more informed and lending decisions.
Responsible borrowing starts with understanding your financial commitments. Before taking on a loan, consider your existing debts and whether you can comfortably manage the repayments.
As MLCB enters its next term, we remain committed to supporting responsible lending practices and promoting greater public awareness of responsible borrowing.
To read the full press release, go to: https://lnkd.in/gcdPGayY
About Credit Bureau Singapore (CBS)
Credit Bureau Singapore (CBS) is Singapore’s primary consumer credit bureau. It collects and aggregates credit data from banks and financial institutions to generate credit reports and scores that help lenders evaluate borrower risk.
About Moneylenders Credit Bureau (MLCB)
The Moneylenders Credit Bureau (MLCB) is a central data repository in Singapore operated by Credit Bureau (Singapore) Pte Ltd under the Ministry of Law (MinLaw). It tracks loan application and repayment histories specifically with licensed moneylenders, excluding commercial bank data.
Source: linkedin.com
