Instruction No. 5 to Credit Institutions Regarding the Risk Registry (Modification No. 3)

BANQUE CENTRALE DU CONGO

THE GOVERNOR

INSTRUCTION NO. 5 TO CREDIT INSTITUTIONS
RELATING TO THE RISK REGISTRY
(Modification No. 3)

Article 1:

The credit institutions listed below, referred to as "Participants," are automatically affiliated with the Risk Registry of the Central Bank of Congo, referred to hereinafter as the "Registry."

Participants must communicate to the Registry information regarding their clients, including:

• identifying data for individual and corporate clients;
• data relating to all types of facilities granted to their clients by disbursement and/or by signature;
• real and personal security guarantees securing the credits granted to clients;
• positive and negative information enabling precise reporting on clients' credit repayment habits;
• any modification concerning information previously communicated;

All this information must be transmitted in accordance with the provisions of the Regulation forming Annex I, referred to hereinafter as "the Regulation."

Article 2:

Based on the information collected, the Registry creates a database accessible to all participants according to the modalities defined in the Regulation relating to the Registry.

Article 3:

Any exchange of information and correspondence between the Registry and the Participants is subject to absolute secrecy.

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To observe this secrecy, the Registry and the Participants comply with the procedure established in the Regulation.

Article 4:

In addition to the consultation fees paid by the participants, the Registry charges them for its operating costs.

The amount thus charged to the Participants is communicated individually to each participant.

Done at Kinshasa, on 29 APR 2013

J-C. MASANGU MULONGO
Governor

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BANQUE CENTRALE DU CONGO

THE GOVERNOR

ANNEX I TO INSTRUCTION NO. 5:
REGULATION RELATING TO THE RISK REGISTRY
(Modification No. 3)

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Article 1: Purpose

This Regulation establishes the operating rules of the Registry and defines the rights and obligations of participants.
It further specifies the rules to be observed to preserve the confidentiality of communications.

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Article 2: Scope of Application

This Regulation applies to the credit institutions hereinafter referred to as "participants."

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Article 3: Definitions

For the purposes of this Regulation, the following terms are understood as:

1. Identifying Data: all information that allows the identification of a natural or legal person;

2. Positive Information: information on the respect of credit repayment deadlines by clients;

3. Negative Information: information on payment incidents and financial difficulties observed in the repayment of credit;

4. Payment Incident: the non-payment of any payment instrument due to lack or insufficiency of funds, as well as the partial settlement of any payment instrument up to the available funds;

Non-payment of any payment instrument issued on a closed account or on an account subject to unavailability is assimilated to a payment incident;

5. Credit Beneficiary: natural or legal person who has obtained a credit from a participant;

6. Authorized Credit: firm and definitive commitment, by the competent body of the participant, to grant this credit;

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7. Used Credit: the amount of credit actually disbursed in favor of the beneficiary;

8. Outstandings: any credit not repaid at maturity;

9. Credit Exposure: the amount effectively made available to the borrower, deducted from related repayments and excluding accrued interest;

10. Communication: any exchange between participants and the Registry, regardless of the medium or technical methods used.

Article 4: Communication and Access to the Registry

1° Identification of the Beneficiary

• The participant is required, prior to granting any facility by disbursement and/or by signature to a client, to consult the Risk Registry (CR) to obtain the code number and the indebtedness report of the client.

• For any client not listed in the Risk Registry, the participant is required to register, in the system, all information relating to the complete identity of said client.

2° Identification of the Credit

As soon as a credit authorization is granted, the participant is required to immediately register in the system all information concerning this credit. The same applies to any related repayment.

Article 5: Content of Declarations

Credit operations to be declared concern any disbursement or any commitment on behalf of or for the account of any credit beneficiary, regardless of the form of facilities granted.

A single declaration must be made when a credit is jointly granted to several persons engaged vis-à-vis a participant. If one of the co-obligors also benefits from a credit individually, a separate declaration must be made for this credit.

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Each participant declares the amount of its participation when several participants have jointly granted a credit to the same beneficiary.

No prior offsetting between debtor and creditor accounts may be carried out, regardless of the nature of these accounts.

Article 6: Removal from Declaration

Clients whose credit exposures are zero continue to appear on the risk declaration but without an engagement amount for a minimum of 3 years. After this period has elapsed and in the absence of new engagements, participants may remove them from the risk declaration.

Article 7: Modification of Information

Modification declarations must be made to the Registry as soon as an error and/or omission is observed.

The participant is required to communicate to the Registry any significant event occurring in the life of the credit beneficiary during the credit repayment period.

This includes, in particular, changes in directors or partners, modification of address or location, or any other fact likely to influence its debt capacity and solvency.

Article 9: Communication and Access to the Registry

Article: Management of client complaints by the CR.

• The indebtedness level must imperatively appear in the file of each client requesting financial assistance.

Article 10: Periodicity of Declarations

Participants communicate their risk declaration in real time.

Article 11: Transmission and Consultation Modalities

The transmission of information is carried out via secure electronic means.

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For any declaration or consultation, access to the Registry by an agent must be subject to rigorous security. The application procedures for security devices concern:

For the participant:

• the definition of the agent's duties with the access rights to be authorized: declaration, consultation.
• the official request for registration, replacement of the agent, modification of access rights, to be deposited with the Registry;
• the personalization and management of the password by the agent.

For the Registry:

• the creation of an access account composed of the agent's name, code, and password.

The access code is personal. Each declarant must take all necessary measures for its preservation and security. They are responsible for any abusive use or use for unauthorized purposes of this code.

Article 12: Confidentiality of Information

To safeguard confidentiality, the participant may only access information on clients having a business relationship with them.

Article 13: Various Obligations and Rights

Every participant is obliged to consult the Registry before granting a credit.

The participant must previously obtain the written consent of the borrower that the information concerning them will be communicated to the Registry to be accessible for consultation by other Credit Institutions. To this end, a clause authorizing the sharing of personal information must be included in the credit application.

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The participant must inform the borrower of their rights and responsibilities listed below:

• the indebtedness level must imperatively appear in the file of each client requesting financial assistance;

• the client has the right to consult, through the participant, their indebtedness level;

• any client can contest the information on their indebtedness level within 15 days following the date of receipt. Failing this, the information appearing in said report is presumed accurate; the borrower remains responsible for the accuracy of the information they have provided; they are subject to criminal and civil prosecution in the event of providing false information;

• information concerning the borrower is protected by confidentiality rules and professional secrecy in accordance with current legislation;

• the participant is responsible vis-à-vis the Registry, the borrowers, for the accuracy, completeness, and consistency of the information they transmit. The same applies to the protection, conservation, and transmission of data they receive from the Registry within the framework of current legislation;

• consultation is carried out in accordance with the access conditions specified in Article 11 of this Instruction;

• the participant sends to the Registry any request for rectification accompanied by justification. To this end, the Central Bank may request additional information.

Article 14: Pricing

The Risk Registry implements a specific tariff grid with a decreasing scale based on the volumes realized by users (banks, financing companies, and microcredit associations).

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Article 15: Professional Secrecy

Any person authorized to access the data of the Registry or assigned to their processing and exploitation is bound by professional secrecy under penalty of sanctions provided for by current legislation.

Article 16: Sanctions

Any breach of the provisions of this Instruction is subject to sanctions provided for by Law No. 003/2002 of February 2, 2002, relating to the activity and control of credit institutions, as well as the Tariffs and conditions in force of the Central Bank of Congo.

Article 17: Final Provisions

All provisions prior to this Instruction are repealed, which enters into force on the date of its signature.

Done at Kinshasa, on 29 APR 2013

J-C. MASANGU MULONGO
Governor