The
Presidents/Chief Executives,
All Banks/DFIs/NBFCs/Modarabas
Dear
Sirs / Madam,
eCIB
DATA REPORTING LIMIT
As
you know that SBP is working on a project of extending the
scope of its Credit Information Bureau by removing the existing
CIB data reporting limit of Rs. 500,000. This project was
undertaken to cater to the increasing consumer credit information
of the financial institutions. In this regard, data capturing
software application was rolled out to all member financial
institutions in September, 2005 with the instructions to
report the data to CIB on the new system as well. Thus,
both the systems i.e. old and new have been running parallel
since October 2005.
2)
The new system is now fully operational and financial institutions
can generate separate credit information reports in respect
of consumer and corporate borrowers irrespective of size
of outstanding amount of exposure. It has, therefore, been
decided to discontinue the reporting to CIB on old system.
Accordingly, you are advised to submit data for the month
of April 2006 through the new system only by May 20, 2006
and onwards by 15th of the following month. However, for
generation of Credit Worthiness Reports (CWR), the old system
will also remain alive till May 31, 2006 and thereafter
CWR will only be generated on the new system and old system
will be suspended altogether.
3)
It may be recalled that all banks/institutions were earlier
advised vide our letter No.BSD/SU-61/101/949/2006 dated
March 03, 2006 to ensure complete reporting under the new
eCIB system, as institutions themselves will be responsible
for consequences of non or partial reporting in the event
of discontinuance of the old system. It is, once again,
reiterated to ensure complete reporting of the data under
the new eCIB system from the month of April, 2006 and onwards
as non/partial reporting will result in deletion of borrowers
of your bank/institution from the CIB system.
Please acknowledge receipt.