Bangladesh Bank is going to introduce online Credit Information Bureau (CIB) reports of banks and financial institutions this week that would bar loan defaulters from contesting elections. Talking to BSS today, Chief Election Commissioner (CEC) Dr ATM Shamsul Huda welcomed the central bank’s new initiative.
“Online CIB reports would help the commission to identify the loan defaulters and take prompt decision in canceling their nomination papers,” said the CEC.
In the past, the EC had to wait for days to get information about loan defaulter candidates and many candidates had won the elections by keeping the commission, the banks and financial institutions in the dark.
From now on, loan defaulters would not be able to hide information from the Election Commission (EC) and the concerned bank and financial institution the central bank opens the much- awaited online CIB report service on July 19. Governor of the central bank Dr Atiur Rahman is expected to inaugurate the service at its Motijheel head office. All 47 banks and 39 other financial institutions would be able to collect CIB report using this online service.Following the existing law of the land, the CIB report will include the name of an individual who has defaulted repayment of at least Taka 50,000 loan, bank sources said.

News: The Independent/ Bangladesh/ July-17-2011