The Bureau was incorporated on 3 June 2008 and began its operations on 1 July 2008.
It is a strategic alliance between Credit Guarantee Corporation Malaysia Berhad (CGC), Dun and Bradstreet (D&B) Malaysia, a global provider of credit information on businesses, and The Associations of Banks in Malaysia (ABM) to enhance SMEs' access to financing and to create a sound credit culture amongst the business community in the country.
The Bureau is essentially a platform for SMEs & Consumers to build, maintain and enhance their credit standings and ultimately, facilitate wider and easier access to financing.
The Bureau also assists SMEs & Consumers by providing an avenue for recourse and ensure only accurate and up to date information are reflected in their reports and ratings.
The Bureau undertakes this role by generating independent credit ratings on SMEs and Consumers; this credit information is obtained from credible sources such as Bank Negara Malaysia (BNM) and the Suruhanjaya Syarikat Malaysia (SSM).
These ratings and reports are available to potential and existing financiers such as financial institutions and other credit grantors, such as multinational corporations and utility companies.
Designed to incorporate both positive and negative credit information, The Bureau's reports provide a balanced view of the SMEs' and Consumers credit standings.
The Bureau's role is to "bridge" the perceived information gap and address some of the issues related to inadequate financial track record involving SMEs and Consumers.
By bridging this gap, The Bureau hopes to create an increasing level of trust between borrower and credit grantors, while promoting greater transparency and competition between credit grantors.
While The Bureau's reports and ratings are primarily used for credit evaluation, this information may also be used by the SMEs and Consumers for self assessment.
The Bureau's credit ratings will identify and highlight areas that need improvement and the necessary remedial actions to be taken by SMEs and Consumers in order to resolve their weaknesses and improve their credit standing.
Having identified their weaknesses SMEs and Consumers can seek professional counseling from The Bureau on the remedial actions required. This service is available at no cost.