Pakistan Electronic Information Bureau (eCIB) Regulation

In reference to State Bank of Pakistan’s BC&CPD Circular No. 06, dated June 22, 2021, which details scope and responsibilities of the Electronic Credit Information Bureau (eCIB) of State Bank of Pakistan, we would like to inform our clients of the below activities which we will be conducting regularly in compliance with the above mentioned circular:

  • Citibank N.A., Pakistan (‘Citi’) will be compiling client data on behalf of eCIB on a regular basis and in the spirit of eCIB stated purpose: ‘Credit Information Bureau collects and collates credit data on borrowers from its member Financial Institutions (FIs). The financial data is then aggregated in the system and the resulting information (in the form of credit reports) is made available online to the member FIs for the purpose of credit assessment and credit risk management. The major purpose of this system is to enable the FIs to know the credit history of their current and prospective customers thus enabling them to make informed and timely lending decisions.’
  • Citi will also comply with disclosure requirements in line with article 7 of the Master Circular on eCIB: ‘The member FIs should create awareness of eCIB reporting and its positive and negative implications for its customers and relevant staff members through proper guidance, disclosure and display in their branches and websites.’

Please refer to the eCIB Circular and Appendix-A for more detail. Also feel free to contact your relationship manager for more information.