Consultation on the draft National Credit Register Bill 2026

Consultation on the draft National Credit Register Bill 2026

The National Reserve Bank of Tonga (NRBT) is collaborating with the Asian Development Bank's Private Sector Development Initiative (PSDI) to establish a national credit register at the NRBT. The National Credit Register Bill 2026 was developed to provide the legal foundation for the in-house credit register at the NRBT.

The national credit register records credit data for use by a person having a legitimate interest in the creditworthiness of another person (e.g. a bank or a non-bank lender). The national credit register aims to improve the collection of accurate, timely and relevant credit information to support lenders' credit risk assessments of borrowers and facilitate the NRBT's oversight of financial institutions. The credit registry service is therefore critical for strengthening the credit environment for lenders and mitigating credit risks and thereby encourage further prudent lending and access to financing.

To promote increased lending for economic recovery and growth, the NRBT must maintain financial stability while protecting borrowers' interests. Achieving this goal requires the establishment of laws and regulations that provide reliable information, such as this Bill, to support informed credit decisions while ensuring adequate protection of sensitive borrower information.

Enclosed is the draft National Credit Register Bill 2026. We invite constructive feedback on this Bill, which may be submitted in writing by Friday 15 May 2026. The main components of the Bill are as follows: