Instruction No. 1/GR/2019 on the Regulation of Participation in the Credit Information Exchange System

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Islamic Republic of Mauritania
The Governor
CENTRAL BANK OF MAURITANIA
Nouakchott, on [Date]

• 222 45 25 22 06
• 222 45 25 28 88
• 222 45 25 27 59
  info@bcm.mr www.bcm.mr
  BP623
  Nouakchott Mauritania
  Tel: + 222 45 25 22 06
• 222 45 25 28 88
  Fax: + 222 45 25 27 59 info@bcm.mr www.bcm.mr
  Instruction No. 1/GR/2019 on the Regulation of Participation in the Credit Information Exchange System The Governor of the Central Bank of Mauritania; Whereas Law No. 73.118 of May 30, 1973 establishes the BCM; Whereas Law No. 2018-034 of August 8, 2018 sets the statutes of the Central Bank of Mauritania; Whereas Law No. 2018-036bis of August 16, 2018 regulates credit institutions; Whereas Decree No. 003-2015 of January 9, 2015 appoints the Governor of the Central Bank of Mauritania; Whereas Resolution No. 155-CG-R6 of the General Council dated June 19, 2018; Whereas Service Note No. 11/GR/2019 of February 27, 2019 establishes the Credit Information Bureau; HEREBY DECIDES:

Article 1: Object
This instruction aims to establish the regulatory framework for the participation of financial actors in the Credit Information Exchange System, pursuant to Article 141 of Law No. 2018-036bis of August 16, 2018 regulating credit institutions.

Chapter I: Definitions and General Rules
Article 2: Definitions
For the purposes of this instruction, the following terms shall apply:
BICR, the Credit Information Bureau; data provider, financial actors subject to the supervision of the Central Bank that can directly provide information on credit or payment arrears of clients with large public or private enterprises to the database; data user, financial actors and BICR personnel who have access to information on client credits, including the credit report; client, any natural or legal person applying for credit from a credit institution; credit report, a document issued by the BICR providing information on a client's credit or deferred payment history and any other information useful for assessing credit risk; sensitive data, the data referred to in Law No. 2017-020 of July 22, 2017 on the protection of personal data.

Article 3: Client Information Based on the Credit Report
If a client's credit application is refused, wholly or partly, based on information from the BICR credit report, the client must be notified of this event by the user who is required to provide them with a copy of the credit report. To ensure the authenticity, reliability, and compliance of database information, the BICR system identifies clients by any appropriate means.

Chapter II: Consumer Rights
Article 4: Prior Information Obligation
Data providers and users are required, before obtaining the client's consent, to provide them with all information regarding activities and elements of the credit report in accordance with the BICR internal regulations and the commitments of the parties.

Article 5: Prior Consent Obligation
The client's prior consent is required for any collection, use, sharing, and dissemination of personal information or data, including credit information. To this end, the client's consent must be recorded as an integral part of the credit application or contract.

Article 6: Provisions Regarding Credit Information
Personal information and data must be:

1. collected honestly and lawfully, not arbitrarily;
2. processed fairly and lawfully;
3. adequate, relevant, and not excessive relative to the purposes for which they are collected and subsequently processed;
4. accurate and up-to-date. Data providers and users must take appropriate measures to ensure that inaccurate, incomplete, ambiguous, expired data, or data whose collection, use, communication, or retention is prohibited, are deleted or rectified;
5. retained in a form that allows identification of the concerned persons and preserves confidentiality and restricted access for any unauthorized third party;

Chapter III: Information Sharing and Participation in the Credit Information System
Article 7: Responsibilities of the Parties
All parties designated by this instruction are responsible for the personal information they have in their possession or under their custody.

Article 8: Credit Report Obligation
Credit institutions must:

1. submit a request to the SICR for a credit report prior to granting credit to any client, provided that prior, free, and written consent has been given by the concerned client;
2. include the credit report in the file of each client applying for credit;
3. share data on all credits within their portfolio.

Article 9: Prohibited Mentions
Data providers, data users, and the SICR are prohibited from collecting, retaining, processing, or disseminating in a credit report, or in any other form, format, or medium, sensitive data as defined by Law No. 2017-020 of July 22, 2017 on the protection of personal data. Information provided to the SICR must in no case relate to balances and transactions of savings or checking accounts, except for unpaid checking accounts, deposits of any nature, other similar products, or the client's sensitive personal data. The SICR and users are strictly prohibited from providing or requesting any type of information or credit reports for marketing purposes or for purposes other than those provided by current regulations.

Article 10: Financial Actors' Participation in the Credit Information Exchange System
Financial actors must:

1. participate in the credit information exchange system under conditions defined by regulatory provisions;
2. submit a request to the SICR to obtain a credit report under conditions defined by regulatory provisions.

Chapter IV: Content of the Credit Report
Article 11: Credit Report Details
Any credit report made available to an applicant must be drafted in a clear, complete, and accessible form. The report is transmitted within a period not exceeding seven (7) days from the SICR's receipt of the request. The credit history provided to the client must include a list of users who have accessed their data over the past six (6) months.

Article 12: Mandatory Details
Every credit report must contain at least the following details included in the credit information exchange system:

1. complete and detailed identification of the client;
2. credits obtained in the past;
3. amounts granted and paid;
4. unpaid credits,

Article 13: Reasons for Issuing a Credit Report
A credit report is issued exclusively for the following reasons:

1. assessment of a client's solvency in the context of granting credit or recovering a claim;
2. upon request by the client or requisition by the courts;
3. risk management and banking supervision needs, or any other reason approved by the Central Bank;
4. application of an international treaty, subject to reciprocity,

Article 14: Liability of Data Providers and Users
Subject to personal data laws, data providers and users also incur civil and criminal liability in the following cases:

1. collection of information from a client who has not given consent, subject to exceptions provided by current legislation, or in case of transmission of erroneous data on the client;
2. unauthorized request for a credit report by the concerned person, and any illicit or abusive use of credit information.

Article 15: Technical Guarantees and Compliance
The various system participants commit to respecting access protection and data confidentiality rules for the information and data they access. They are required to take all technical measures to ensure access security at their level. They commit to continuously monitoring technical security provisions to ensure compliance with the minimum standards set for system participants.

Article 16: Information Guarantee
Data providers commit to verifying the authenticity, reliability, and compliance of information intended to feed the Credit Information Bureau database.

Chapter V: Management of Claims and Disputes
Article 17: Information on the Referral Procedure
The BICR must make available to the client detailed information on the referral procedure enabling access to their credit information, its correction, or its deletion.

Article 18: Claim Procedure
If a client disputes information in a credit report, they may file a claim accompanied by documents proving the inaccuracy of the data with the BICR services.
The claim may also be submitted through the data provider with whom the client holds an account or has a contract.
Without prejudice to appeals to the Central Bank or any other competent authority, the client may petition the courts of general jurisdiction.

Article 19: Processing Period
The BICR transmits the client's request to the data provider within five (5) days from the date of receipt.
The data provider has fifteen (15) days from receiving the BICR's correspondence to confirm the accuracy of the data and correct it, if applicable.
Exceptionally, the BICR may perform this correction upon request by the data provider.
If there is a disagreement between the client and the data provider regarding information transmitted to the BICR to prove an error, and if the dispute is not resolved by agreement within thirty (30) days, the BICR must authorize the client to insert a message in the credit report, containing up to one hundred (100) words, explaining the reason for the dispute, until a final solution is reached.

Article 20: Obligation to Correct Errors
If the data provider indicates that an error cited in the client's filed request is attributable to the BICR, the latter must correct it within ten (10) working days from receiving the data provider's notification.

Article 21: Appeal to the Central Bank
If a client is unsatisfied with how their request was handled by the BICR, data provider, or data user, they may file a petition with the Central Bank, which rules within sixty (60) days from the date of referral. Without prejudice to appeals to the Central Bank or any other competent body, the client may petition the courts of general jurisdiction.

Chapter VI: Final Provisions and Sanctioning Powers
Article 22: Security Verifications
The BICR has the necessary prerogatives to drive and guide credit bureau activities in Mauritania. To this end, it holds all powers over system participants to ensure compliance with technical obligations, particularly security essential for the proper operation of the Credit Information Bureau. If necessary, it takes all useful measures to correct operational difficulties.

Article 23: Breach of Obligations
When, due to either a lack of vigilance or negligence, a data provider or user fails to meet its obligations—such as failure to transmit data, late transmission, erroneous data, or lack of security measures—the BICR communicates observed violations to the Central Bank, which applies disciplinary measures provided by current legislative and regulatory texts.

Article 24: Control and Supervision Powers
The Central Bank ensures and guarantees BICR activities. To this end, it holds control and supervision powers over all operations to ensure their compliance with security rules and user data protection. It takes any useful provision or measure for the implementation and management of credit information in Mauritania.

Article 25: Entry into Force
This instruction takes effect from its date of signature. It repeals any prior contrary provisions.
Abdel Aziz DAHI