Credit Information Bureau (CIB)
Details on Credit Information Bureau in Pakistan
This presentation presents details of Credit Information Bureau (CIB) in Pakistan. It covers the following topics:
- Objectives of CIB;
- Scope of CIB;
- Process before and after going online;
- Statistics of the Bureau;
- Legal and regulatory challenges to information sharing.
The presentation reports that:
- Objective of the CIB is to provide maximum information to help financial institutions take informed credit decisions;
- CIB would provide both positive and negative information about both individual and group borrowers;
- Obtaining credit report is mandatory for financing Pak Rs. 500,000 and above under prudential regulation governing banks/Non-Bank Financial Companies (NBFCs);
- Reporting of data of borrowers of Pak Rs. 500,000 is mandatory for all banks/NBFCs;
- The CIB has a total of 131 reporting institutions;
- About 218,152 credit reports were issued during the year 2003;
- There are restrictions on banks on sharing client data except with the States Bank of Pakistan (SBP);
- SBP is prohibited from disclosing the name of the financial institution in the credit report.
The presentation concludes by reporting the various development activities related to CIB.