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Singapore moneylenders' credit bureau to start operations in 2016

Published Thu, Nov 5, 2015 · 09:50 PM
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Singapore

SINGAPORE'S moneylenders' credit bureau will begin operations next year - a move that closes a gap in credit information on targeted borrowers.

DP Information Group (DP Info), which has been appointed to run the new credit bureau, announced this on Thursday.

The Ministry of Law (MinLaw) will require all licensed moneylenders to provide information on their loans and the payment behaviour of their customers to the bureau. This information can then be accessed by other licensed moneylenders whe…

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