A CCRIS report is an important element of having a potential loan approved, which makes it an essential part of the early steps towards owning your first home.
We know that understanding a new financial jargon can be difficult sometimes, so here’s a simple guide on CCRIS from what it means to how do you get your personal CCRIS report.
What Is A CCRIS Report?
The Central Credit Reference Information System (CCRIS) is a system created by Bank Negara Malaysia’s (BNM) Credit Bureau to provide standardised credit reports on a potential borrower.
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The Credit Bureau was formed (under the Central Bank of Malaysia Act 2009) by BNM in order to administer CCRIS. They’re required to adhere to the standards which have been set by the Act.
CCRIS is basically a centralised database which offers a picture of your financial health. BNM is provided with monthly updates by relevant institutions to compile the necessary information, such as:
- Banks
- Insurance providers
- Development financial institutions
- Payment instrument issuers
- Credit leasing companies
- Government agencies
- Private utility companies
This then enables financial institutions and lenders to effectively assess the creditworthiness of a potential recipient through reference to a recorded financial history.
In addition, BNM can also assist financial institutions in reaching faster and better informed lending decisions, by providing them with these credible reports.
What Is Included In A CCRIS Report?
The CCRIS report provides credit-related information on a potential borrower. The information included covers three major areas:
- Outstanding Credit(s) – This is a summary of all outstanding loans and credit(s) obtained by the borrower, including those related to joint borrowing, and relevant business or commercial loans.
- Special Attention Account(s) – ‘Special Attention Account’ refers to outstanding loans flagged by a financial institution under special monitoring, meaning that the account has been moved into special measures in order to recover that loan.
- Application(s) for Credit – All pending applications for credit, or those that have been approved within the last 12 months.
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Did you know that you’re not allowed to prevent the Credit Bureau from gathering your financial information, as the law allows them to do so?
Do note that the information only shows outstanding or active accounts, pending credit applications, and approved credit applications for the last 12 months.
Who Gains Access To CCRIS Reports In Malaysia?
Bank Negara Malaysia CCRIS reports are provided to relevant parties upon receipt of an appropriate request. Those parties are as follows:
| Financial Institutions | Upon receipt of credit application or in review of existing customers. |
| Individuals | Requesting their own credit report. |
| Registered credit agencies | Those approved by Bank Negara Malaysia or with prior consent from the borrower. |
| Individuals for their own business reports | Requesting for reports on sole proprietorship, partnership, or professional body. |
| Companies | Requesting their own credit report. |
| Credit Reporting Agencies | Private companies such as CTOS Data Systems Sdn. Bhd. (CTOS), Credit Bureau Malaysia Sdn. Bhd. (CBM), and Experian Information Services (Malaysia) Sdn Bhd, which provide their own credit reports, are regulated by BNM and can only access the CCRIS report with consent from the borrower. |
How Do I Get My CCRIS Report?
The CCRIS report is an important document, and it’s good to stay up-to-date with how your report looks like if you’re considering purchasing a new home.
Currently, there are three methods to get your CCRIS report:
- The eCCRIS portal – The helpful CCRIS online platform provides simple, secure access to your CCRIS report whenever you need it. Registration will vary, depending on your current situation and will be explained in a dedicated segment below.
- CCRIS kiosks – These kiosks are available at the premises of Agensi Kaunseling dan Pengurusan Kredit (AKPK) nationwide. Simply insert your MyKad into the credit kiosk, provide your thumbprint, and once your identity has been verified, you can print a CCRIS report.
- Approved Credit Reporting Agencies – As previously mentioned, these are private companies with their own credit reports. Unlike the previous two methods which are free, these Credit Reporting Agencies may charge a fee for their services. You can get your report via this method through the following agencies:
- CTOS Data Systems Sdn. Bhd. (CTOS)
- Credit Bureau Malaysia Sdn. Bhd. (CBM)
- Experian Information Services (Malaysia) Sdn. Bhd. (formerly known as RAM Credit Information Sdn. Bhd.)
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eCCRIS was set up for Malaysians to be able to access and retrieve their credit reports conveniently, anywhere and anytime. They can also submit data verification requests directly to participating banks and BNM
How do I register eCCRIS?
Starting 18 February 2022, eCCRIS allows new users who are Malaysian individuals with a MyKad and internet banking facility to register directly online at eCCRIS. There is no need of any physical presence at BNM or AKPK premises for registration authentication.
The identity of new users will be confirmed digitally. This involves a RM1 transfer to a designated Bank Negara Malaysia account via internet banking. This is is required to ensure only valid financial consumers are requesting the eCCRIS registration.
The RM1 will be automatically refunded within 2 working days upon registration. If authentication is successful, the new user will receive a 6-digit OTP to their registered mobile number and email to complete your registration.
For Malaysian individuals with MyKad but without internet banking facility or bank account, you can register via one of the following methods:
- CCRIS kiosks at any AKPK offices nationwide
- eLINK by submitting completed application form and supporting documents. The form can be downloaded from the following link.
For companies, businesses or non-individuals, you must appoint an authorised person to register via eLINK by submitting a completed application form and supporting documents. For non-Malaysian individuals, you can register yourself directly via the same method.
How Is My CCRIS Report Assessed By Lenders?
It’s important to note that a CCRIS report does not give a direct credit score or rating. BNM also does not get involved in any of the participating financial institution’s lending decisions.
What it does is provide a relevant and comprehensive history of credit (factual information), by which you can be assessed on an individual basis by lenders and financial institutions.
This history includes things like credit card debts, house loans, car loans, personal loans, trade facilities, and even your banking overdraft.
As discussed above, it will also include all credit approved, rejected, or deleted in the 12 months prior to assessment, as well as any of your accounts currently flagged as Special Attention Accounts.
Banks and financial institutions assess loan applications differently, but broadly speaking, they’re looking for evidence of a steady repayment schedule, minimal defaults, arrears such as a backlog on paying off a credit card, or missed payments, and a stable debt ratio.
That also means they tend to look negatively on a credit card or bank loan which is constantly at its maximum limit, which may demonstrate poor financial management.
Ultimately, the result of a loan application is down to the individual assessment criteria employed by a particular bank.
If the outcome is positive, the financial institution will hopefully approve your loan. That means you’re one step closer to that dream of buying your next property!
However, it’s worth noting that being rejected from a loan application will be noted on any further CCRIS reports requested in the next 12 months.
Even if your loan application was rejected by one bank, other banks may not do the same. This is because different financial institutions have different lending policies, depending on their risk appetites.
How is CCRIS different form other credit reports?
CCRIS often gets confused with other credit reports, mainly CTOS. In reality, CTOS is a credit reporting agencies registered by the Ministry of Finance under the Credit Reporting Agencies Act 2010 with own credit report, the CTOS score.
The CTOS score a credit score for individual that indicates a consumer’s credit risk. The score ranges from 300 to 850. The higher the score, the lower the credit risk.
Data from the CCRIS report is just one of the many information included in a CTOS Score report. Other information include:
- Personal Information – Data from National Registration Dept
- Dishonoured Cheques – Data from BNM
- PTPN Loan – Included in CCRIS report from BNM
- Directorship & Business Interest – Data from Companies Commission of Malaysia (SSM)
- Litigation and Bankruptcy – From Malaysia Department of Insolvency (MDI), courts, government gazettes.
- Trade Referee Listings – From subscribers/creditors (example: utility companies, telco, astro, etc.
Other credit reporting agencies such as Credit Bureau Malaysia and Experian Information Services will also have CCRIS information in their own unique credit reports.
Some FAQs On What CCRIS Is All About
1) Can a bank retrieve the credit report of a borrower who isn’t their client/potential client?
Absolutely not! If any bank were to unlawfully attempt to do so, it can be subject to severe penalties under the Central Bank of Malaysia Act 2009.
2) Am I able to retrieve my credit report over the phone from BNM?
As there’s no way for BNM to verify the authenticity of the caller, and the financial information contained in the report is confidential, BNM is not allowed to do so.
3) Am I able to retrieve my credit report from my bank then?
Again, that’s a no. You can only get it from BNM or eCCRIS.
4) Can I authorise a representative to collect my credit report for me?
Nope, the credit report will only be released to the owner of the information. Vice versa, you won’t be able to collect it for anyone else, no matter how close you are!
This also applies to any situation where you are/will become the guarantor of a loan. Similarly, if you’re the borrower of a loan and you want to see your guarantor’s credit report, it’s still a no!
5) As a Director of a company, can I retrieve the company’s credit report?
Yes, you may. You’d need to fill in a Credit Report Request Form, and submit it with a copy of the following documents:
- A copy of identity card (MyKad) or passport (if you are a non-Malaysian) of the authorised person.
- An authorisation letter from the company (on company letterhead) to authorise the person to collect the credit report. The letter should be signed by the company secretary and a minimum of two Directors of the company.
- A dated certified true copy of the Company Registration Certificate (Form 9) by company secretary.
- A dated certified true copy of the Company Registration Certificate of Change Name of Company (Form 13) by company secretary (if applicable).
- A dated certified true copy of the latest List of Directorship of Company (Form 49) by company secretary.
*The letter of authorisation and certified true copies must be dated within 14 working days before the submission date of your request.
5) If my application has been rejected, does that mean BNM has blacklisted me?
Not at all! As BNM merely plays the part of a neutral information provider, when one of your applications get rejected, any information of it will not be in your credit report.
This is to ensure that a participating financial institution will not be prejudiced by the decision of another participating financial institution.
They’ll usually do background checks on the individual, which not only involves CCRIS, but information from other credit reporting agencies such as CTOS Data Systems Sdn Bhd (CTOS), and RAM Credit Information Sdn Bhd (RAMCI).
6) If I’ve paid off my loan in full, how come it’s not reflected in my record?
Your bank is responsible for updating your record, not BNM. If you notice it, contact your bank to clarify the matter.
Additionally, please note that your records will be updated by the next reporting date, i.e. not later than 10th of the following month.
7) My loan is reported under a Special Attention Account, what’s that?
A Special Attention Account happens when you have any outstanding credit facilities — loans being one of them, but other plausible causes include bounced or dishonoured cheques, or special debt management schedules negotiated by AKPK.
When your loan is under a Special Attention Account, it means that the financial institution is keeping a very watchful eye on it, until the loan is resolved.
Until the loan is recovered, the financial institution is not allowed to lend you any money. To resolve this, contact your financial institution on how to proceed and settle the loan as soon as possible.
8) If I was declared bankrupt before, but have now managed to settle all my debts, can BNM remove my name from the bankruptcy status list?
Please liaise with the Malaysian Insolvency Department at 03-88851000 on your bankruptcy status and inform the financial institution of the latest status so that it may be reflected in the credit report.
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