MIRPUR (AJK): Bank of Azad Jammu & Kashmir and Data Check Limited have signed a memorandum of understanding (MoU) in the federal capital to work in mutual cooperation for data sharing included credit information and screening of borrowers, it was officially said.

DCL is a premier credit bureau organization which works with major financial institutions of the country facilitating them with credit information to screen and monitor borrowers, according to a BoAJK media release issued on Sunday.

The ceremony was chaired by President of The Bank of Azad Jammu & Kashmir (BAJK) Khawar Saeed and the Chief Executive Officer of Data Check Ltd Tariq Nasim Jan.

By entering into this arrangement with Data Check Pvt Ltd BAJK would be facilitated to access the information of borrowers/ defaulters of other Banks to refrain from extending financing facilities to them. Likewise, the other Banks will also be equally benefited by accessing information of the Credit Data Base of BAJK.

Addressing the ceremony, President of BAJK Khawar Saeed expressed his appreciation for the Data Check Ltd. & BAJK teams for their efforts to conclude the deal.

He further stated that the data sharing access with other banks is a milestone for Bank of AJK. Availability of this data sharing facility will support the Bank to make well informed and prudent lending decisions, he added.