In accordance with the Central Bank of Malta (CBM or the Bank) Act article 24 (2) and Directive No. 14, credit institutions (banks) licensed by the MFSA, are obliged to forward credit and credit risk information, to the Bank, on all their existing clients, whether a natural or a legal person, who have a credit exposure in excess of €5,000 at the end of the reporting month. The Bank securely stores this non-anonymised information within its Central Credit Register (CCR). The Bank will allow licensed credit reference agencies to access the credit data, stored within its CCR, for credit scoring purposes in line with the CBM Act article 24A and Directive No. 15.
MCB Ltd. will request the counterparty in question for consent, prior to accessing information held at the CCR.
Read more about the CCR, and on the role that the Bank plays to make credit data, sourced from credit institutions, available to a licenced credit reference agency.