Definition of (Credit Information Bureau) CIB. Process, how to get CIB (Credit Information Bureau)

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Definition of (Credit Information Bureau) CIB:

Credit Information Bureau (CIB) is a credit record of an individual, which contains the repayment history of liability. The CIB is generated from central bank of a country. In the previous time, the CIB was generated manually but now a days it is generated through online from the server of Central Bank. In manual process it was a lengthy process which took about 15 to 20 days to generate, but now it requires only few seconds.

Users of CIB:

The financial institutions which engaged with lending to others must use CIB to know the credit history of applicant.

CIB (Credit Information Bureau) Process:

1. File receiving from Branch/DST with CIB inquiry and Undertaking form: Two of important forms are sent by Branch/DST to provide information about the Applicant.  Those are:

  • CIB Inquiry  Form
  • Letter of Undertaking

2.  Log-in to Bangladesh Bank CIB online Module/Server (www.bbcib.org.bd): By using user name and password, login to the website to generate CIB report.

3. Applicant’s Information input to the Bangladesh Bank CIB online Module or Server: Inputs:

            3.1: Contract Data: Includes-

  • Role
  • Types of Financing
  • Periodicity of the Payment
  • Credit Limit
  • Request Date of the Financing

3.2: Subject Data (Borrower/Co-Applicant/Guarantor)

3.2.1Subject Data: Includes-

  • Subject Type

3.2.2: Individual Data: Includes-

  • Applicant’s Title
  • Applicant’s Name
  • Applicant’s Father’s Title
  • Applicant’s Father’s Name
  • Applicant’s Mother’s Title
  • Applicant’s Mother’s Name
  • Applicant’s Husband’s (if any) Title
  • Applicant’s Husband’s (if any) Name
  • Applicant’s National ID Number
  • Applicant’s TIN
  • Applicant’s Date of Birth
  • Applicant’s Gender
  • Applicant’s District of Birth
  • Country of Birth

3.2.3: Main Address Data: Includes-

  • Street Name and Number
  • District
  • Postal Code
  • District

3.2.4:  Additional Address Data: Includes-

  • Street Name and Number
  • District
  • Postal Code
  • District

3.2.5: Identification Document Data (Instead of NID): Includes-

  • ID Type
  • ID Number
  • ID issue Date
  • ID issue Country

3.2.6: Telephone Data: Includes-

  • Telephone Number

3.2.7: Sector Data: Includes-

  • Sector Type
  • Sector Code

After inputting all the information in the Bangladesh Bank CIB online Module, click on ‘Send Request’ Button.  Then the request will be processing on the server.

The whole process works like:

 

Information input —click on—>Send Request—–Request will be ——->Processing

 

4. Receiving the PDF document from Bangladesh Bank CIB online server:  After Imputing all the information of the applicant and then sending it to the server to generate CIB report, MIS receives a PDF document from the Bangladesh Bank CIB online Server.  MIS officer download the Document from server.  Then open the file to further analysis.

5. Analyze the Loan Status: After receiving the PDF, MIS analyze the loan status of the applicant provided by Bangladesh Bank Credit Information Bureau.

Loan Classification Status is as follows:

  • UC (unclassified): regular payment status
  • SMA (Special Mentioned Account): 2 to 6
  • SS (Sub-Standard): 6 to 9 month
  • DF (doubtful): 9 to 12 month
  • BL (Bad and Loss): 12month or more
  • BLW (Bad and Loss Written-off): Totally unpaid.

 

 

 

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