This video gives a brief insight into the world of the book, “MONEY $ENSE, Getting Smart With Your Money”.

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One of the tools used by banks to evaluate the credit worthiness of a customer is to refer to the CCRIS report obtained (and maintained) by Bank Negara Malaysia (BNM). Beginning August 2001, CCRIS has become a crucial tool to the decision-making of the bank to approve the customer’s application. The report provides for real-time and on-line functions for banks to query for computerized customer credit reports as well as report relevant credit information to BNM.

CCRIS gives valuable details to the bank such as:

• Details of all existing personal credit facilities of a customer, such as type of facility, and ownership of the credit facilities
• Details on the total financial commitment, which includes the balance outstanding and the total limit for each of the credit facilities
• Conduct of each credit facility for the past 12 months, including legal status
• Other relevant information such as Date of Information Update, Frequency of Payment and Type of Collateral.

However, before you get worried about your credit information being abused, please note that the information can only be accessed by authorized persons in the bank, and is not available to the public in general. Your credit report:

• Can only be obtained by the bank IF a formal CREDIT application is made by you to that particular bank
• Cannot be viewed by other banks, at any time
• Does not show your deposit / investment accounts
• Does not show from which financial institution you borrowed from
• Does not show the tenure of the credit facility enjoyed by you
• Does not show the conduct of facilities for periods above one year

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