Circular No. 13/M/18 on the Feeding and Consultation of the Information Exchange Centre

BANQUE DE LA REPUBLIQUE DU BURUNDI THE DIRECTORATE

Circular No. 13/M/18 on the feeding and consultation of the Information Exchange Centre, issued pursuant to Regulation No. 001/2018 on microfinance activities

Article 1: Purpose and Scope

This circular defines the procedures for transmitting and consulting information related to credits recorded in the Information Exchange Centre (CEI), applicable to microfinance institutions.

Article 2: Procedures for Transmitting Credit Information to the CEI

Every microfinance institution must, no later than the first fifteen (15) days of the following month, transmit to the Central Bank the data collection form regarding the indebtedness status and repayment history of each of its debtors, and where applicable, of any group of which each debtor is a member.

The data collection form must be transmitted to the electronic address fichecollecte-cei@brb.bi of the Information Exchange Centre, via CD-ROM or any other electronic medium.

Article 3: Entry of Data Collection Form Information

All fields of the data collection form, the format of which is attached to this circular, relating to identification information, credit details, and codifications, must be completed exhaustively.

Every microfinance institution must perform necessary checks and ensure the accuracy of the information contained in the data collection form.

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Article 4: Use and Security of CEI Access Codes

Every microfinance institution must request, from the Central Bank, access codes to the CEI for at least two users, in order to access its secure space. CEI users must consult the CEI before the microfinance institution grants credit to any new client or member.

The microfinance institution remains responsible for the access codes it has obtained from the Central Bank and for their regular updating for security reasons.

Any microfinance institution or credit establishment that has obtained CEI access codes must take all necessary measures for the preservation and security of said access codes. It is responsible for any abusive use or use for purposes not authorized by this circular.

Article 5: Security Measures

The procedures for applying security measures concern:

1. User identification and their access rights;
2. The official request for registration, user replacement, or modification of access rights, to be submitted to the Central Bank;
3. Password customization and management by the user.

Article 6: Publication of Borrower Information

Every microfinance institution must include a borrower consent clause in financing agreements, stating that the borrower accepts that information regarding their credit (negative and positive) may be published to the CEI and/or to any entity responsible for centralizing credit information that has received the mandate from the Banque de la République du Burundi.

Article 7: Obligation to Consult the Information Exchange Centre

Microfinance institutions must, before granting credit, consider the overall indebtedness of the person applying for credit and that of any group of which this person is a member, by consulting the Information Exchange Centre.

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Article 8: Entry into Force

This circular replaces Circular No. 09/M/14 on the feeding and consultation of the Information Exchange Centre dated January 13, 2015, and enters into force on the day of its publication in the Official Bulletin of Burundi and on the website of the Banque de la République du Burundi.

Done in Bujumbura, on 20/8/2018

BANQUE DE LA REPUBLIQUE DU BURUNDI

Annonciata SENDAZIRASA 2nd Vice-Governor

Melchior WAGARA 1st Vice-Governor.

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