1997: Inception of the idea for establishment of CIB under joint ownership of RMA & FIs.
2000: RGOB formally directs RMA to initiate work on establishment of CIB.
2004:
March: RMA and the FIs formally agree to set up a task force with members from the RMA & FI to work on establishment of CIB.
July: CIB Secretariat set up as a Unit under the Financial Regulations & Supervision Department of RMA and a task force of 13 members (2 from each FI) was formed to facilitate the planning process.
December: A comprehensive report/proposal for establishment of CIB was submitted to the CEOs of the FIs.
2005:
January: Task Force makes a detailed presentation of the proposal for establishment of CIB to the CEOs.
November: Framework for drawn up for operation of CIB and Memorandum of Understanding (MoU) signed between RMA & FIs.
2006:
March: D&B makes a presentation on setting up of CIB and agrees to conduct the feasibility study for USD 10,000.
June: A team of three officials from D&B commences feasibility study for establishment of CIB.
November: Following presentation of feasibility study report by D&B, the stakeholders decide to endorse and award the project to D&B.
2007:
June: Stakeholders approve the Draft Credit Verdict Contract Agreement, Service Level Agreement and the Financial Proposal. An Advisory Board comprising of CEOs was formed and the Advisory Board was also to function as the CIB Board of Director.
July: Signing of Credit Bureau Services Agreement between RMA and D&B and commencement of work at offsite project Office in Chennai.
August: Commencement of onsite project work at RMA relating to infrastructure set up and development of reporting format.
2009: Launch of automated (Credit Verdict System) credit information sharing platform developed by D&B
2011: Transition to Credit Verdict and commencement of sale of Commercial operation of CIB.
2013: CIB delinked from RMA as a separate Financial Infrastructure Company
2015:
March: CIB incorporated as a company under the Companies Act of Kingdom of Bhutan, 2000
December: CIB granted license to operate as a credit bureau by the Royal Monetary Authority of Bhutan
2016 : CIB granted license by Ministry of Economic Affairs to operate as a credit bureau.
Amendment of CIB Rules and Regulations & System upgraded from Credit Verdict to to Silver Blade 2.0 with ADB TA
2017: Shareholding of RMA in CIB (44%) was transferred to MoF
2018: RMA Governor appointed as Chairman of CIB Board by MoF
2020: Initiated development of mobile app for facilitating Self Inquiry Report
2021: Initiated development of Credit Scoring Model
2023: CIB Board grants in-principle approval for adoption and implementation of Credit Scoring
