Senate passes Credit Bureau Bill 2015
The bill was moved by Finance Minister Ishaq Dar.
Explaining importance of the bill, it has been stated that Credit Bureaus throughout the world have their eminence and impacton financial decisions. Lending and investment assessments by financial institution particularly by banks are crucial elements for healthy credit culture in the country.
Credit bureau provides information for objective examination of credit standing of the borrowers. In Pakistan, a couple of private credit bureaus started their functions without any legal framework or regulatory requirements.