IScore 2702207 Presentation for Egyptian Banking Federation - PowerPoint PPT Presentation

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IScore 2702207 Presentation for Egyptian Banking Federation

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High Investigation Cost. High Credit Risks. Current Risks Associated With Non Disclosure ... Is it guaranteed by law that borrowers can inspect their data? ... – PowerPoint PPT presentation

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Title: IScore 2702207 Presentation for Egyptian Banking Federation


1
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2
  • Types and levels of Credit Bureaus.
  • Highlight on how Credit Bureaus contribute to
    overall Governance /
  • Risk Management frame work.
  • Type of permissible non permissible
    disclosures.

3
Banks and Non-Banks Credit Bureau
Consumer and Commercial Credit Bureau
4
Credit Bureau function is to issue a
comprehensive report on borrowers ( individuals
small enterprises ) through collection of credit
information from lenders and public information
from public sources.
5
(No Transcript)
6
  • Integral part of a Sound Credit Judgement
  • Credit is available to a larger segment of the
    population
  • Effect on Borrowers Behaviour
  • Countrys Investment Grade
  • Getting Credit
  • Credit Information 3 Indicators
  • Public Credit Registry Coverage Number of
    Individuals Firms
  • Adult Population
  • Private Credit Bureau Coverage Number of
    Individuals Firms

  • Adult Population
  • Legal rights of creditors and debtors 1
    indicator

Credit Information Index Egypt Are both
individuals and firms listed in credit registry?
Are both positive and negative date
distributed ? Does the registry collect credit
information from financial Institutions as well
as retailers and utilities providers? Are more
than 2 years of historical credit information
available for distribution ? Is Data on all
loans larger than 1 of Income per capita
recorded? Is it guaranteed by law that borrowers
can inspect their data?
7
  • 2005
  • - Banking Monetary Law
  • - Account Secrecy Law
  • - CBEs Approval on Rules Governing
    Establishment of Credit Bureaus
  • January 2006
  • CBEs Board of Directors approved the
    rules regulations governing
  • the Operations of Credit Bureaus

Changes covered the following - Data
Exchange (Banks / Mortgage Finance / Leasing /
Credit Bureaus) - Supervisory Regulations
- Compliance Rules - Penalties on Non
Compliance
8
  • Phase I - 3rd Quarter 2007
  • Start up July 2007
  • - Feeding of Information from Banks ltEGP
    30,000 for a comprehensive profiling on consumer
    borrowers EGP 1 to (unlimited) and SMEs with
    credit borrowing up to EGP 1 MM.
  • - Feeding 800,000 records maintained at the
    Public Registry (CBE)
  • for Credits gt EGP 30,000
  • - Data Compiled under unified National ID
  • Phase II - 4th Quarter 2007
  • - Non Banking Financial Institutions
  • - Mobile Operators

9
  • Phase III - Value Added Solutions ( Based on
  • Analysis Market Needs )
  • 2008
  • - Credit Scoring
  • - On combined profile of the customers
  • 2009
  • - Fraud Discovery
  • - Identity Verification
  • - SME Rating ( under study )
  • - Risk Management Training Center ( under
    study )

10
  • Data exchange between Banks / Leasing Companies /
    Mortgage Finance Co.s and Credit Bureaus (
    Private Public ) without borrowers consent.
  • Disclosure to lenders Only by written consent of
    the borrower.
  • Right of borrowers to inquire on their own credit
    history.
  • Disclosures by Act of Law.

11
  • Board Members are not allowed access to
    information on borrowers. Staff of the Credit
    Bureau ( on as need basis )
  • Dual control access by designated employees to
    amend records.
  • Disclosures due to permissible purpose authorized
    by borrowers such as credit application ,
    increase, annual review, guarantor etc
  • Credit Bureaus Right to review lenders records
    on inquiries made.
  • Regulatory audit reviews by CBE on lenders and
    the Egyptian Credit Bureau.
  • Disclosure on borrowers are not permitted to any
    party not specifically authorized by rules
    regulations governing the operations of the
    Credit Bureau.
  • Compliance Officer oversight in the Credit Bureau.

12
  • Thank You
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