CCRIS is owned by Bank Negara Malaysia. One of the main objectives of this bank is to keep the finances of the country stable. The bank achieves that by supervising and regulating the financial outfits. The credit policies have been carefully designed by this Bank for the other financial institutions. The Bank also encourages the use of best policies to manage the credit risks. With the help of the information provided by CCRIS, the financial institutions and banks are able to make an educated decision regarding money lending. It also makes their process quite effective and efficient.
Bank Negara Malaysia is also called the Central Bank of Malaysia and it started its operations in 1959. The Central Bank of Malaysia Act of 2009 governs the Bank Negara Malaysia. The primary objective of the bank is to ensure financial and monetary stability throughout the country. The bank has remained supportive of growth at all times.
It is also currently being widely used by PTPTN to highlight those who default in the repayment of the education loan given by PTPTN. This will have impact on applicants who might apply for mortgage loan and loan for property in future, as credit checking is a compulsory step in granting of these loan.
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