The
Presidents/Chief Executives
All Banks/ DFIs/NBFCs
Dear
Sirs/Madam,
CIB
ON-LINE
You will be pleased to know that State Bank of Pakistan has
made its Credit Information Bureau (CIB) facilities online
in collaboration with Pakistan Banks Association (PBA). Through
this facility, banks/financial institutions can now seek credit
worthiness reports and submit their monthly credit data to
the Bureau electronically via dial up. Resultantly, the time
lag in submission of data to CIB and retrieval of credit reports
will be minimized so as to promote efficiency in the credit
appraisal processes of banks/DFIs/NBFCs.
2)
For availing online facility of obtaining Credit Worthiness
Reports, banks/DFIs/NBFCs shall be required to sign an agreement
with SBP on the prescribed format, the specimen of which can
be obtained from this office effective from 28th
February 2003. The applicant banks/DFIs/NBFCs will be connected
online after signing of the agreement and payment of joining
fee of Rs 130, 000/-. Banks shall pay the joining fee to PBA,
while DFIs and NBFCs shall pay the fee to SBP. After completion
of above formalities, SBP shall provide necessary guidelines,
software, users ID etc. to the banks/DFIs/NBFCs. All banks/DFIs/NBFCs
are advised to join CIB online at the earliest but not later
than 30th April 2003. The State Bank shall not
entertain any request for issuance of credit reports manually
after 30th April 2003.
3)
The existing formats of data collection and credit
worthiness reports of CIB have been critically examined in
consultation with PBA to bring them at par with international
best practices. As a result, the existing formats of data
collection (viz. CIB-I, II & III) circulated vide our
BSD Circular No.16 dated 26th March 2001 have been
revised thereby deleting certain redundant fields/items, increasing
the width of few fields and adding some new fields/items.
The Revised CIB I, II & III formats are enclosed as Annexure-I
4)
Banks/DFIs/NBFCs are advised to submit CIB data of
borrowers of Rs.0.5 million and above on the revised formats
online through their authorized persons, effective from the
month ending 30th April 2003 from their pre-notified
telephone numbers, within 15 days from the close of each calendar
month. However during the three months parallel run period
(upto June, 2003), Banks/DFIs/NBFCs shall continue to submit
the above data on floppy diskettes
(DBF format) also.
Please acknowledge receipt.
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