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News & Events
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Home > News
& Events
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Vacancy Announcement for office assistant post January 16,2023
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The Credit Information Bureau of Bhutan Ltd(CIB) is pleased to announce the following vacancy.
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Position | Office Assistant |
Slot | 1 |
Qualification | Class 12
Minimum 60% (English + 3 Best subjects) |
Category & Grade | Category II, Grade XIII |
Placement | Thimphu |
Pay Scale | Basic Pay: Nu 16,295/-
Company Allowance: 30% of Basic pay
House Rent Allowance: 20% of Basic pay
other benefits as per Service Rules |
The following documents have to be submitted: |
1. Mark sheet and Academic certificate |
2. Security Clearance Certificate |
3. Medical Fitness Certificate not older than 6 months |
4. Copy of the Citizenship ID card |
5. Passport size photos |
6. No objection Certificate from the employer, if employed |
Interested candidates fulfilling the above criteria may apply with all the relevant documents
along with the Employment form to CIB latest by January 27,2023.
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For further clarification, kindly contact CIB office at telephone number 02-339872/339877 during office hours. |
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Notification
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Launch of CIB
On September 9, 2009, the Royal Monetary Authority (RMA), Central Bank of Bhutan
celebrates the formal launch of the RMA's Central Banking Solution - the Integrated
Central Banking System (ICBS) as well as Bhutan's first Credit Information Bureau.
Since the RMA also enters its 27th year, the institution takes the opportunity to
celebrate its Silver Jubilee which it was unable to do so in 2007 due to the numerous
socio-political changes taking place in the country. This launch is therefore, in
many ways, testimony to the visionary leadership and economic architecture of their
Majesties, the Fourth and Fifth Druk Gyalpos, and their legacy that continues to
guide and transform this nation.
Lyonpo's Speech
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The Credit Information Bureau of Bhutan
Similarly, it is widely acknowledged that a dynamic and sound financial sector is
a prerequisite for a strong and vibrant private sector. The increasing need for
improved access to finance especially for micro, small and medium scale enterprises
also remains a relevant and hugely debated issue today in Bhutan. One of the major
responsibilities of the RMA is to ?promote credit and exchange conditions and a
sound financial structure conducive to the balanced growth of the economy.? The
establishment of the country's first Credit Information Bureau is one of many ways
in which the RMA steps in to fill institutional gaps to strengthen the financial
sector.
Research indicates that informal financing remains a common source of start-up finance
for micro, small and medium scale entrepreneurs in the country. It also reveals
that the lack of affordable finance in Bhutan is a serious constraint due to the
high cost of borrowing, particularly stringent collateral requirements. This however
is largely rooted in the information asymmetry between borrowers and lending agencies,
lack of information which in turn hinders financial institutions from carefully
assessing the credit risks of its potential borrowers. Information gaps raise the
transaction costs associated with lending and are at the heart of Bhutan's collateral-based
credit and uniform pricing approach.
From 2006 till date, the RMA and its partner financial institutions, with joint
financing by the RMA, the Asian Development Bank, and technical expertise of Dun
and Bradstreet, a leading global provider of risk assessment and credit bureau solutions,
embarked on the challenging ground work for the Bureau. Bhutan's Credit Information
Bureau is a service-driven automated information sharing mechanism that will replace
the existing and cumbersome Loan Clearance Certificate system to create value for
credit granting institutions by meeting their needs for comprehensive and expeditious
credit information. The Bureau, a single point of inquiry, is now mandated to collect,
collate and disseminate detailed credit information to member financial institutions
on individual and commercial borrowers.
In that respect, the Bureau will empower financial institutions to make better informed
credit decisions, reduce the time and costs associated with processing loan applications,
and improve the quality of risk assessment and management practices.
This will ultimately help to improve the quality of financial sector assets, reduce
non-performing loans and strengthen financial sector soundness. It will also promote
the growth of underserviced market segments by facilitating credit expansion without
compromising on the quality of credit.
The Bureau, will become fully operational in November this year, and will undergo
several development phases. Until such time the Bureau's system and capacity is
sustainable, it shall operate as a Unit of the RMA.
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