CIB Circular No. 01: Regarding submission of information related to Willful Defaulter in CIB Database

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

Credit Information Bureau

CIB Circular No.-01 Date: 21 May 2024 AD 07 Jyestha 1431 Bangla

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

Dear Sir,

Regarding submission of information related to Willful Defaulter in CIB Database.

Reference is drawn to your attention BRPD Circular No.-06, Date: 12/03/2024 and DFIM Circular No.-04, Date: 03/04/2024 on the subject above.

2. Instructions have been issued directing all scheduled banks and finance companies operating in Bangladesh to report information regarding any identified and finalized "Willful Defaulter" to the Credit Information Bureau (CIB) in accordance with paragraph 8(1) of the aforementioned circulars.

3. Information regarding "Willful Defaulter" must be reported to the CIB database in Bulk or Real-Time format starting from 01 July 2024, following the instructions in "Annex-A".

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

5. Based on information/data as of 30 June 2024, the aforementioned instruction must be implemented starting from 01 July 2024.

Yours faithfully,

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

Phone: 88-02-9550448, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530495, www.bb.org.bd

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Credit Information Bureau

Annex-A

Method for collecting information of Willful Defaulter from Bank/Finance Company:

Currently, information on the Default Status of any loan by Bank/Finance Company is submitted to the CIB database through the following Domain Table:

Table Default Status
Value	Description
Y	Yes
N	No

2. To report the 'Default and Willful Default Status' of any loan by Bank/Finance Company to the CIB database, the aforementioned Domain Table will be replaced by the following Domain Table:

Table Default and Willful Default Status
Value	Description
Y	Default=“Yes” but Willful Default=“No”
N	Default=“No” and Willful Default=“No”
W	Default=“Yes” and Willful Default=“Yes”

Footnotes: i) “Y” in Default and Willful Default Status means borrower/Co-borrower/Guarantor is Defaulter but not Willful Defaulter.

ii) “N” in Default and Willful Default Status means borrower/Co-borrower/Guarantor is not Defaulter neither Willful Defaulter.

iii) “W” in Default and Willful Default Status means borrower/Co-borrower/Guarantor is Defaulter and also Willful Defaulter.