Regulatory Alerts2025-09-25
Added
CIB Circular Letter No. 03: Regarding Sector-Specific Exemption from Service Charges/Fees for CIB Reports
The Circular simplifies the process for obtaining sector-specific exemptions from Credit Information Bureau (CIB) service charges by allowing eligible applicants to use the CIB-developed 'Credit Information System (CIS) User Guide' instead of submitting hard copies of supporting documents. While the requirement to submit hard copies is removed effective October 1, 2025, banks and financial institutions must still submit a monthly signed 'Credit Information System User Guide' form by the 5th of the following month until September 30, 2025. The document explicitly prohibits charging service fees to applicants from exempted sectors and restricts the use of the CIB User Guide to those specific sectors only. All other instructions from previous circulars remain unchanged.