The Presidents/CEOs
All Microfinance Banks

Dear Sirs / Madam,

Sharing of Customer Data with Pilot/Private CIB

Currently, MFBs regulated by SBP share their customers’ data with and use SBP’s e-CIB; however, a large number of MF clients (at present approximately 50%) are served by non-SBP regulated MFIs with no credit history of their customers either at SBP or private credit bureaus. Both MFBs and MFIs are operating in the same markets with good chances of overlapping customers thus the risks of over indebtedness and loans adjustment by customers with different organization exists. Further, the envisaged accelerated MF growth has also made it imperative to have a dedicated MF-CIB in Pakistan for smooth functioning of MF markets.

2. In this regard, Microfinance Banks may like to share their customers’ data with pilot/private CIB(s) subject to development of comprehensive customer protection and confidentiality guidelines duly approved by their Board of Directors. Further, express customer consent is mandatory for sharing customer data with other institutions/ CIB and the duty of maintaining confidentiality will remain with the Microfinance Bank.

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