Contents of Credit Information Report
A Credit Information Report (CIR) contains the following information of borrowers (Corporate & Individual):
1. Demographic/Firmographic data - Name, Address, Nationality, Date of Birth, Gender and Identity Card Number etc. received from Royal Oman Police (ROP) and addresses reported by the banks & financial institutions (member institutions) in case of individuals and Company Registration Number and Date of Registration received from Ministry of Commerce & Industry (MOCI) and Name, Addresses etc. reported by the member institutions in case of corporate borrowers.
In case of Non-Omani GCC nationals and individuals who don’t have a Civil or Resident ID and Non-MOCI entities will be assigned an ID number issued by the BCSB system for this purpose.
2. Employment History – Details of the last 3 employments as reported by the member institutions only in case of individuals.
3. User Inquiry History during the last 6 months – Details of the inquiries made by the member institutions during the last 6 months.
4. Self-Inquiry History during the last 6 months – If the borrower has obtained a CIR during the past 6 months, it will be displayed here.
5. Relationship Details – Member institutions are obliged to report the relationship of individuals and corporate entities in order to monitor single obligor lending limits. This section will include close blood relations and relationship with businesses related to individuals and corporate entities as reported by the member institutions.
6. Summary of Credit Facilities – This is a summation of all credit facilities in the CIR, except closed facilities, together with details of each non-performing facility.
7. Details of Credit Facilities (CF) – This section will display the details of each credit facility inclusive of the CFs guaranteed by the borrower. (e.g. Type of CF, Joint or single, Date Activated, Currency, Amount/Limit, Balance outstanding, Status of CF, Classification, Amount overdue, Number of Days Past Due, Tenure of CF, Repayment Mode, Installment Amount, Date Reported & Date Updated etc.). Name of the reporting member institution will be displayed only in case of Non-performing (Substandard, Doubtful & Loss) CFs.
8. CF History during Last 24 Months – This illustrates the number of days past due, if any, of each CF during the last 24 months.
9. Details of Complaints – If the borrower has made a complaint to a member institution regarding any CF, the details and status of the complaint will be displayed in this section.
10. Security Details – The details of securities provided by the borrower for each CF will be displayed in the section as reported by the member institutions.
11. Disclaimer clause – CIRs will contain the information as it is reported by the member institutions and accordingly they are responsible for the accuracy of the information.CIRs do not provide any recommendation or opinion of Central Bank of Oman whether credit may be granted or not.