CIB Circular No. 01: Resetting the threshold of submission of Credit Information to the CIB Database

Website: www.bb.org.bd Credit Information Bureau Bangladesh Bank Head Office Dhaka CIB Circular No. 01/2018 Date: April 26 , 2018 Baishakh 13, 1425 Managing Director/Chief Executives All Scheduled Banks/FIs in Bangladesh Dear Sir, Resetting the threshold of submission of Credit Information to the CIB Database Please refer to the article 3(Ka) of CIB Circular No. 02/2011 dated 04 May 2011. According to the above circular, all banks and financial institutions were instructed to upload the credit information (Loans having outstanding balance of Tk. 50,000 & above and all credit cards defaulted with outstanding balance of tk. 10,000 & above) of their borrowers to the system before the 20th of the following month. As a result, CIB database does not include the loans having outstanding balance of less than Tk. 50,000. It is necessary to incorporate all loans in CIB database to strengthen credit discipline in the banking sector. Thus, by resetting the threshold of submission of credit information a plan of all credit information to the CIB database has been undertaken. In order to implement that some instructions are issued hereunder for you to comply with:

1. The threshold of submission of credit information to the CIB database has been reset at Taka 1 (one). That is, from now on credit information (including credit cards irrespective of positive or negative data) having outstanding balance of Tk.1(one) and above has to be uploaded to the CIB Online System by all banks/FIs on monthly basis.
2. March' 2018 Batch Contribution has to be uploaded to the CIB Online System on or before 10 May, 2018.
3. From April' 2018 Monthly Batch Contribution and onwards, every Monthly Batch Contribution has to be uploaded to the CIB Online system on or before 20th of the following month. This circular will be effective with immediate effect. Yours faithfully (Monsura Khatun) General Manager Phone: 9530133