Emphasizing the obligation of banks to obtain data from the Egyptian Credit Inquiry Company I-score

Mr. Chairman of the Board of Directors

Greetings,

We wish to refer to the letter from the Governor dated 2008/6/2, which mandates all banks and mortgage financing and financial leasing companies, effective from July 1, 2008, to do the following:

1. Access credit information and data regarding the debts of natural persons (without a maximum limit) exclusively through the Egyptian Credit Inquiry Company.

2. Access credit information and data regarding the debts of small and medium-sized enterprises, where the credit granted to any of them does not exceed one million Egyptian pounds from any of these banks and companies, through the Egyptian Credit Inquiry Company and the Central Bank's consolidated credit data registration system.

Based on the above, we reinforce the provisions of the aforementioned letter from the Governor, whereby all banks must obtain data from the aforementioned Company to analyze the repayment behavior of customers/small and medium-sized enterprises when evaluating each client (according to the concept above) and assessing them for the purpose of granting, increasing, or renewing credit. Thus, the inquiry report received from the (I-score) Company constitutes a mandatory document that must include the information it contains within the credit study memo presented to the competent authority for granting credit.

In this regard, we kindly request emphasizing the necessity to adhere to accuracy in the information sent by banks to the Company, in order to ensure the correctness of the reports issued by the Company, which other banks rely on to evaluate their clients.

It is worth noting that the periodic inspections conducted by the Central Bank on banks will include the following:

• 1. The extent of banks' compliance with providing accurate credit data to the I-score Company.
• 2. The extent of banks' reliance on and access to the Company's data as stated above.

Please accept our highest respect,

The Governor