CBSI licenses credit bureau to boost transparency, lending fairness, and financial inclusion in Solomon Islands.
The Central Bank of Solomon Islands (CBSI) hereby announces that the CBSI Board has approved a licence for Credit & Data Bureau Solomon Islands Limited (CDBSIL) on 19 March 2026 to operate as a Credit Reporting Service Provider in Solomon Islands, in accordance with the Solomon Islands Credit Reporting Regulations 2025.
The approval marks an important milestone in strengthening the national credit reporting framework and improving the integrity, transparency, and efficiency of the country’s financial system.
The licensing of CDBSI will:
▪ Enhance fair and responsible lending practices across the financial sector.
▪ Improve access to credit for individuals and businesses with strong repayment histories.
▪ Expand financial inclusion by enabling a more complete and secure flow of credit information.
Under the Regulations, CDBSIL is authorised to collect and maintain credit information from banks, credit institutions, retailers, utility providers, and other approved data sources. This information may only be used for lawful purposes such as credit assessment, identity verification, fraud prevention, AML/KYC compliance, tenancy assessments, and high-risk employment screening.
CBSI emphasises that consumer rights are strongly protected under the new framework. Every consumer has the right to:
▪ Access their credit information once annually for free
▪ Request correction of inaccurate or outdated information
▪ File complaints and escalate unresolved disputes to CBSI
▪ Place fraud alerts on their credit profile in cases of suspected identity theft
CDBSIL is required to maintain robust data privacy and security systems and to comply fully with CBSI oversight and reporting obligations.
CBSI encourages all stakeholders including lenders, businesses, and consumers to familiarise themselves with the new credit reporting framework, as it will play a crucial role in strengthening financial stability and supporting sustainable economic growth. The Solomon Islands Credit Reporting Regulations is now available on the CCBSI website for public access and reference.
SOURCE: PRESS RELEASE
