A Credit Bureau is a data bank / repository that will collect factual information relevant to the history and payment habits pertaining to Individual's and SME's from the credit grantors and disseminate such information by way of Credit Information Reports (CIRs) to credit grantors.

I-Score will present only factual credit information provided by the credit grantors and does not participate in granting or denying of application for credit.

The decision to grant / deny credit is made by the credit grantors.

The decision to extend credit is made by a "credit grantor". Most often, this decision involves reviewing your credit file, which is obtained from a Credit Bureau, such as I-Score.

A credit file is created when you apply for credit / borrow money from the credit grantors.

I-Score organizes and stores such credit information so that it can be retrieved by members of
I-Score, in form of CIRs enabling them in taking informed credit decisions.

The CIRs will reflect the demographic information (for Individual's), firmographic information (for SME's), identifiers, credit history (good and poor) and litigation information.

The CIRs will display information pertaining to good credit history for 2 years and for poor credit history for 5 years.

When you apply for credit, the credit grantor wants to be sure that, if they lend you money, they will be paid back. The more your credit file demonstrates that you pay your debts on time, the more desirable you become as a potential customer.

If you have fallen behind in repayment schedule in the past, a credit grantor wants to see how you have been managing your debt since then.

Your credit file also shows how much you have already borrowed or co - signed for. Credit grantors want to evaluate your financial capacity to make monthly payments. No responsible lender will want to over - lend or encourage customers to take on more debt than they can pay back.

Only members of I-Score will be provided CIRs and only when the request relates to purpose for inquiring and obtaining the credit report:

• As per a court sentence, court order or arbitration;
• Providing, increasing, renewing or amending the terms of any form of credit;
• Accepting a guarantee in any form;
• Determining the credit scoring of the client who is applying for the credit;
• Reviewing the credit position to determine regularity in meeting his commitments in due dates or as per a signed consent from the client.

I-Score will present only factual credit information provided by the credit grantors and not participate in granting or denying of application for credit.

The decision to grant / deny credit is made by the credit grantors.

The CIRs will display information pertaining to good credit history for 2 years and for poor credit history for 5 years.

I-Score neither grants nor denies any application for credit. We simply provide a factual account of your credit history to credit grantors. The credit grantors review this information and make an independent decision based on its own policies. You can request a copy of your credit file to establish whether there was negative information on your credit file that may have prevented you from receiving credit.

If you are a co-signer of a loan, the activities related to that loan will usually be reported by the credit grantor on both the report of the borrower and the co-signer.

Buy now, on credit, rather than waiting until you have the money to purchase items such as properties, appliances, televisions, automobiles, etc.

This creates immediate demand for these goods. That demand creates employment opportunities and these new jobs allow more people the opportunity to buy now and pay later thus stimulating the economy.

I-Score Data Submission

Scope

To explain the data submission process on:

• Joint Accounts
• Guarantors
• LC & LGs
• Default Accounts - Interest booked to Contingent Accounts & CBE Initiative Comments
• Repayment Type and Repayment Amount

Case Study

 Joint Accounts

For Joint Account application, each distinct Subject Segment (joint borrower) must be reported as a part of SAME i.e. ONE Credit Facility record as per I-Score File Format.

A Record essentially contains the Credit Facility, Subject and Dishonour of Cheques Segments.

Example:

Mohammed Muqsit Abdullah has taken a Housing Loan jointly with Mohammed Azeez Abdullah.

Reporting: I-Score File Format

The information for this loan will be reported to I-Score as follows:

Please Note:

The Data Provider Identification Code for Subject i.e. the Banks Internal Customer Number for each of the specific borrower must be UNIQUE when reported for joint borrowers.

Example: Data Provider Identification Code for Subject (Maximum of 16 digits - Unique)

Mohammed Muqsit Abdullah : MA123456789

Mohammed Azeez Abdullah : AA456789000

In case the Data Provider Identification Code for Subject is NOT UNIQUE, then Banks may index the Data Provider Identification Code for Subject for each of the joint borrowers as 1 & 2 respectively.

Example Banks Database: Data Provider Identification Code for Subject (Maximum of 16 digits - Not Unique)

Mohammed Muqsit Abdullah : MA123456789

Mohammed Azeez Abdullah : MA123456789

Reporting: I-Score File Format and NID File Format

Data Provider Identification Code for Subject (Maximum of 16 digits)

Mohammed Muqsit Abdullah : 1MA123456789

Mohammed Azeez Abdullah : 2MA123456789

Reporting of Customer Number in the National ID File Format

The Customer Number reported in the National ID file for joint borrowers must be unique. In case the Customer Number is not unique, then Banks may index the Data Provider Identification Code for Subject for each of the joint borrowers as 1 & 2 respectively.

For all borrower accounts i.e. Individual, Joint Accounts & Guarantors, the Customer Number reported in the National ID File and Data Provider Identification Number reported in the I-Score File Format must always be SAME for all reporting periods to I-Score.

Note:

It is important to report ALL details pertaining to ALL borrower accounts (including Joint Accounts) should be reported to I-Score.

For further details pertaining segments please refer to Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5.

Guarantors

The details pertaining to the guarantor must be reported as a part of SEPARATE Credit Facility record.

A Record essentially contains the Credit Facility, Subject and Dishonour of Cheques Segments.

Example:

Mohammed Muqsit Abdullah has taken a Housing Loan jointly with Mohammed Azeez Abdullah. Mohammed Hesham Abdullah is a guarantor to the Housing Loan.

Reporting to I-Score:

The information for this loan will be reported to I-Score as follows:

Record 1

Record 2

Please Note:

The Data Provider Identification Code for Subject i.e. the Banks Internal Customer Number for each of the specific customer must be UNIQUE when reported for joint account borrowers and guarantor(s).

Example: Data Provider Identification Code for Subject (Maximum of 16 digits - Unique)

Mohammed Muqsit Abdullah : MA123456789

Mohammed Azeez Abdullah : AA456789000

Mohammed Hesham Abdullah : HA345678000

In case the Data Provider Identification Code for Subject is NOT UNIQUE, then Banks may index the Data Provider Identification Code for Subject for each of the joint account borrowers and guarantor(s) as 1, 2 and 3 respectively.

Example Banks Database: Data Provider Identification Code for Subject (Maximum of 16 digits - Not Unique)

Mohammed Muqsit Abdullah : MA123456789

Mohammed Azeez Abdullah : MA123456789

Mohammed Hesham Abdullah : MA123456789

Reporting: I-Score File Format and NID File Format

Data Provider Identification Code for Subject (Maximum of 16 digits)

Mohammed Muqsit Abdullah : 1MA123456789

Mohammed Azeez Abdullah : 2MA123456789

Mohammed Hesham Abdullah : 3MA123456789

Reporting of Customer Number in the National ID File Format

The Customer Number reported in the National ID file for joint borrowers and guarantor(s) must be unique. In case the Customer Number is not unique, then Banks may index the Data Provider Identification Code for Subject for each of the joint account borrowers and guarantor(s) as 1, 2 & 3 respectively.

For all borrower accounts i.e. Individual, Joint Account Borrowers & Guarantor(s), the Customer Number reported in the National ID File and Data Provider Identification Number reported in the I-Score File Format must always be SAME for all the reporting periods to I-Score.

Note:

It is important to report ALL details pertaining to ALL borrower accounts (including Joint Accounts & Guarantors) should be reported to I-Score.

For further details pertaining segments please refer to Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5

LC & LG

For LC & LG, the Approval Amount and Credit Facility Account Balance must only indicate the amount exposed as risk and NOT the covered amount.

Example: SME

ABC & Company has a LC & LG with Bank A.

The details for the LC are as follows:

Approval Amount : 400,000

Cash / Deposit Cover : 100,000

Credit Facility Account Balance : 300,000 (Exposure)

The details for the LG are as follows:

Approval Amount : 500,000

Cash / Deposit Cover : 300,000

Credit Facility Account Balance : 200,000 (Exposure)

Reporting to I-Score:

The information for this loan will be reported by Bank A as per I-Score SME Format as follows:

LC:

LG:

New Credit Facility Type 021 as (Letter of Guarantee) to be added.

Example: Consumer

Mohammed Hesham Abdullah has a LC with Bank A.

The details for the LC are as follows:

Approval Amount : 400,000

Cash / Deposit Cover : 100,000

Credit Facility Account Balance : 300,000 (Exposure)

The details for the LG are as follows:

Approval Amount : 500,000

Cash / Deposit Cover : 300,000

Credit Facility Account Balance : 200,000 (Exposure)

Reporting to I-Score:

The information for this loan will be reported by Bank A as per I-Score Consumer Format as follows:

LC:

LG:

New Credit Facility Type to be added. 020 for (Letter of Credit)
021 for (Letter of Guarantee)

Note:

It is important to report ALL details pertaining to ALL borrower accounts.

For further details pertaining segments please refer to:

• Guide to SME Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5
• Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5
   

Default Accounts - Interest booked to Contingent Accounts & CBE Initiative Comments

• In case of default accounts:
• If the interest is booked to contingent accounts, such interest amount must be reported as part of the Credit Facility Account Balance field;
• If the amount is written off then Banks must provide
  • The Amount Written Off; and
  • Reason for Amount Written Off

In case of using the Reason for Amount Written Off 001 i.e. Settlement Agreement, then any one of the following values may be reported in the Special Comments Field.

Refer to the Special Comments field catalogue Values for more details in the:

Guide to SME Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5

Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5

Special Comment Field (I-Score Consumer & SME File Format)

New Special Comments to be added.

Note:

It is important to report ALL details pertaining to ALL borrower accounts.

For further details pertaining segments please refer to:

• Guide to SME Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5
• Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5

Repayment Type and Last Amount Paid

The Repayment Type field indicated the repayment cycle i.e. monthly or quarterly or etc. for a particular credit facility availed by the borrower.

If for a credit facility there are multiple repayments, then banks are required to report to I-Score:

• The most frequent/earliest catalogue code for the field ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?Repayment Type’
• And the latest/ last amount paid by the borrower in the ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?ï?½?Last Amount Paid’ field

Example: Consumer

Mohammed Hesham Abdullah has a Personal Loan with Bank A.

The details for the repayment for the personal loan are as follows:

Month 1

Amount of Installment Amount : 3,000

Repayment Type of Installment : Monthly

Last Amount Paid by the Customer : 3,000

Month 2

Amount of Installment Amount : 3,000

Repayment Type of Installment : Monthly

Last Amount Paid by the Customer : 3,000

Month 3

Amount of Installment Amount : 3,000

Repayment Type of Installment : Monthly

Quarterly Amount of Installment : 1,000

Repayment Type of Installment : Quarterly

Last Amount Paid by the Customer : 4,000

Reporting to I-Score:

The information for this loan will be reported by Bank A as per I-Score Consumer Format as follows:

Month 1

Month 2

Month 3

Note:

It is important to report ALL details pertaining to ALL borrower accounts.

For further details pertaining segments please refer to:

• Guide to SME Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5
• Guide to Consumer Input File Format (Banks, NBFIs) - Delimited File Format, Version 1.5