CIB Circular No. 02: Regarding doing correction in the board of directors of a borrowing company in CIB database

Credit Information Bureau
Bangladesh Bank
Head Office
Dhaka
Website: www.bb.org.bd
10 October, 2021
CIB Circular No-2/2021 Date: ----------------
25 Ashwin,1428
Managing Directors/ Chief Executives
All Scheduled Banks & Financial Institutions in Bangladesh Dear Sir, Regarding doing correction in the board of directors of a borrowing company in CIB database. In an attempt to provide stakeholders with better and prompt services by CIB the following instructions are issued on the captioned subject. A complete set of documents mentioned below along with the forwarding letter must be sent to the bureau in order to correct information if there is any change in the board of directors of a borrowing company. The instructions are as follows:

1. Before sending the request letter to the bureau for doing correction in CIB database of a
   borrowing company, the requesting bank/Financial Institution (FI) must suggest the client to communicate about the issue with other banks/FIs concerned so that they can also send the necessary documents to the bureau.
2. The requesting bank/FI and other banks/FIs concerned must submit either the attested copy of the
   minute’s pages stating the decision on the captioned subject along with the first and last pages of the minutes signed by the chairman of the board of directors of the lending bank/FI or the approval of the one step higher authority than the sanction authority whichever is applicable.
3. The requesting bank/FI must enclose attested copies of Schedule-X, Form-XII, Board Memo,
   Memorandum and Articles of Association or other documents as instructed time to time by CIB along with the forwarding letter.
4. The incoming directors of the borrowing company have to be inserted through batch contribution
   to the CIB database before sending the request to the bureau.
5. If the personal guarantee of outgoing directors of the borrowing company or the corporate
   guarantee of any other company or both of these guarantees remains to continue then all guarantors must be incorporated to the CIB database through batch contribution before sending the request to the bureau.
6. The requesting bank/FI must submit the attested copies of the board resolution relating to the
   change in the board of directors of the borrowing company and the borrowing company’s application to the lending bank/FI for implementing the change in the CIB database.
7. If the documents instructed to the bank/FIs concerned to submit to the bureau on the captioned
   subject are not received within three months from the date of instruction, the request letter submitted by the bank/FI will be treated as cancelled. Afterwards, if necessary, the new forwarding letter has to be sent for the same issue to the bureau. This circular will be effective with immediate effect. Yours faithfully (Md. Anis Ur Rahman) General Manager Phone: 9530133