The Mauritius Credit Information Bureau
The Mauritius Credit Information Bureau (MCIB) is a repository of credit information, both positive and negative, on all recipients of credit facilities and guarantors, information from Utility bodies and Hire Purchase Companies and any other information that may reasonably assist in ensuring the soundness of the credit information system.
The MCIB is the only credit bureau operating in Mauritius. It was set up under Section 52 the Bank of Mauritius Act 2004 and came into operation on 1 December 2005. It operates through a fully computerized system owned by and located within the premises of the Bank of Mauritius.
The main objective of the MCIB is to ensure the development of an overall sound credit environment. Another positive fallout of the MCIB is that it directly assists in fighting over-indebtedness, principally of households, which has detrimental effects on family life. The MCIB can achieve its objectives by providing credit granting institutions with services that enable them to make more informed and timely credit decisions and promoting a disciplined credit culture in the population.
The main function of the MCIB is to collect information from institutions offering credit including leasing facilities and hire purchase and utility bodies. It consolidates, stores and makes the information available to its participants to assist them in making more informed creditworthiness assessment of applicants for credit.