Credit Bureau Asia (CBA) on Wednesday (Dec 30) launched Myanmar's first credit bureau, The Straits Times reported.

The bureau is a 60:40 joint venture between MB Investment, a company formed by members of the Myanmar Banks Association, and CBA's wholly-owned subsidiary NSP Asia Investment Holding.

The new Myanmar Credit Bureau will support financial institutions and consumers in Myanmar by implementing a credit reporting system to promote responsible lending, CBA said in a news release.