Karmasangsthan Bank has signed an agreement with Bangladesh Bank to gain access to the central bank's Credit Information Bureau (CIB) database, enabling it to verify borrowers' credit information and strengthen its loan risk assessment.
The agreement was signed at Bangladesh Bank's head office on Monday (November 9).
Mohammad Shafiqul Islam, director of the CIB, signed the agreement on behalf of Bangladesh Bank, while Karmasangsthan Bank Managing Director Arun Kumar Chowdhury signed on behalf of his institution.
Under the agreement, Karmasangsthan Bank will be able to access and use loan-related information stored in the CIB database in accordance with prescribed rules and regulations.
The facility is expected to improve the bank's credit risk assessment, support data-driven lending decisions and ensure greater transparency and accountability in its lending operations.
Bangladesh Bank Deputy Governor Md Anichur Rahman attended the signing ceremony as the chief guest, while Executive Director (Statistics) Ashish Kumar Roy chaired the event.
In his speech, Anichur 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 stressed the importance of accurate and updated reporting to the CIB database, proper use of information and compliance with existing regulations.
Chairman Ashish Kumar Roy emphasised accurate data submission and verification, as well as proper training for relevant officials to improve information 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. He thanked Bangladesh Bank for taking the initiative.
Earlier, CIB Additional Director Shyamal Kumar Majumder delivered the welcome address, outlining the bureau's establishment, development and activities. He also highlighted the importance of accurate data reporting, verification and compliance with existing policies.
Bangladesh Bank Executive Directors, CIB Director Mohammad Shafiqul Islam, Director Muhammad Mahfuzur Rahman Khan and senior officials from both institutions attended the programme.
The event was conducted by CIB Assistant Director Marzia Sharmin.
Officials expressed hope that the agreement would strengthen Karmasangsthan Bank's credit information management, improve governance in lending operations and reinforce institutional credit discipline.
