CIB was established primarily to function as the central repository of credit data for the purpose of minimizing the problem of asymmetric information between the Lending Institutions and the borrowers in the banking sector/credit market thus helping lending Institutions to make informed credit decisions and minimize credit risks associated with Non-Performing Loans (NPL).

Our Objectives

1. Improve access to credit (Example- MSMEs).
2. Minimize information asymmetry between borrowers & lending Institutions.
3. Reduce costs to serve through functioning as the single point of inquiry for credit information.
4. Improve quality of credit risk assessment & management practices of lenders.
5. Reduce non-performing loans through aiding credit decision making process.
6. Facilitate Regulators to manage consumer and business indebtedness, and ensure economic stability.
7. Facilitate objective assessment of creditworthiness of borrowers through sharing factual credit history/data on credit exposure of borrowers.
8. Promote better credit terms for financially responsible borrowers.
9. Create a healthy credit culture through promoting responsible borrowing.

Our Functions

1. Collect data and information from the data provider.
2. Store, compile and disseminate information and data from a centralized database, relating to the credit exposure of any borrower/client, and connected person, for use by the data user for the purpose of assessing the credit worthiness of a borrower/client.
3. Issue Loan Status Certificate to employees who resign, retire, avail long term leave or separate from service for other reasons.
4. Process and report information relating to the credit exposure of all borrowers/clients in the financial sector and report the relevant data for the purpose of performing supervisory and regulatory functions by the Authority.
5. Develop credit scoring models to evaluate the client’s worthiness to receive credit.
6. Ensure the confidentiality of data/information relating to borrowers/clients at all times.

Our Operating Principles

1. Building Trust & Credibility in CIB’s operations.
2. Ensuring Accuracy, Sufficiency and Currency of the Data collected from all relevant sources, and retaining the information for a sufficient amount of time.
3. Ensuring Security & Confidentiality of the Data so collected by maintaining the same in a secured environment and ensuring their usage only for authorized purposes.
4. Adhering to the Principle of Neutrality & Non Discrimination - Equal Treatment based on factual information only.
5. Adhering to the Principle of Reciprocity in Data Sharing - Provide access to credit data to data providers.
6. Instituting an Efficient Dispute Handling System to facilitate Right to Review Information.