Regulatory Alerts2024-10-08
Circular 105-1: Credit Information Transmission to the Credit Information Bureau
The Bank of the Republic of Haiti issued Circular 105-1 to mandate that financial institutions electronically transmit monthly credit portfolio data to the Credit Information Bureau (BIC) by the 10th of each month. The regulation requires institutions to maintain accurate credit records, consult credit reports for risk assessment during lending decisions, and adhere to strict data security and correction protocols. Non-compliance results in significant daily fines for late submissions, failure to correct errors, or missing credit reports, with penalties enforced through direct deduction from BRH accounts.
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