The Central Bank will be the credit reporting system regulator, with responsibility for promoting the efficient and effective development of a fair credit reporting system—one that satisfies the needs of the various participants, and is supportive of consumer rights.

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As the credit reporting system regulator, the Central Bank will:

      a. issue standards and guidelines, to ensure that the credit bureau has adequate

          safety and security measures in conducting its operations;

      b. inspect the premises, system and operations of any applicant for a credit bureau              licence and the credit bureau operator;

      c. issue standards and targets for the provision of credit reporting services;

      d. ensure that the credit bureau maintains proper standards of conduct and

          acceptable credit reporting practices;

      e. protect the integrity of the credit reporting system against abuses; and

      f.  take measures to protect the interests of every consumer whose data is held by

          the credit bureau.

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