CIB Circular Letter No. 02: Regarding cut off time of upload of Credit Information to the Credit Information System (CIS)

50119

Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh. Website: www.bb.org.bd

Credit Information Bureau

CIB Circular Letter No. 02

Date: 07 October, 2024 18 Ashwin, 1431

Managing Director / Chief Executive Officer All Scheduled Banks and Finance Companies Operating in Bangladesh

Dear Sir,

Regarding the time limit for providing loan information to the Credit Information System (CIS).

Attention is drawn to CIB Circular Letter No. 01, dated 06 May, 2024, on the subject above.

2. In order to make the CIB program dynamic, powerful, and effective, an initiative has been taken to periodically save the monthly basis information of the borrower's loan in the CIB report. By storing monthly loan information in the CIB database, it will be possible to include Credit History in the CIB report, which will enable your institution to correctly conduct Credit Appraisal of a potential/existing borrower and analyze the customer's Repayment Behavior. Overall, collecting monthly loan information is very important for regular monitoring and supervision of loan information and maintaining loan discipline.

3. To this end, instructions are given to submit the loan information of all your customers as follows:-

a) You must upload Subject data, Contract data, and Link data for new sanctioned loans and existing (Living) loans of your customers on a monthly basis as of the last date of each month to the Credit Information System (CIS) in bulk or via entry between the 1st and 15th of the following month.

b) During the interval between two monthly loan information submissions, if any loan is renewed/extended/restructured/rescheduled/reconciled or for any other reason any change occurs in the classification of any loan, the loan information as of the date on which the loan information has changed (Accounting date) must be uploaded to CIS in Real time.

c) If any loan information needs to be reported in accordance with the instruction in paragraph 3(b), the loan information as of the last date of the previous month of that loan must first be uploaded to CIS. Subsequently, the updated information of the mentioned loan must be uploaded to CIS in Real time in accordance with the instruction in paragraph 3(b).

4. The instructions of CIB Circular Letter No. 01, dated 06 May, 2024, are hereby repealed.

5. This instruction is issued under the powers conferred by Article 44(1) of the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972).

6. This instruction will take effect immediately.

Yours faithfully,

(Munshi Mohammad Waqil) Director (CIB) Phone: 9530133

Phone: 88-02-9550448, 9554899, IP: 88-02-95665001-6, Fax: 88-02-9530494, www.bb.org.bd