The Electronic Credit Information Bureau (eCIB) was founded by the State Bank of Pakistan (SBP) in December 1992. eCIB operated within the framework established by the Banking Companies Ordinance (BCO) of 1962. Under Section 25 (A) of this ordinance, SBP is empowered to request credit information as it deems fit and share it with member banking companies.
All banks, Development Financial Institutions (DFIs), Non-Bank Financial Companies (NBFCs) and Micro Finance Banks (MFBs) operating in Pakistan, are part of the eCIB database. As per State Bank of Pakistan (SBP) directives, membership with eCIB is obligatory for all banks, DFLs and Micro Finance Banks (MFBs). Access to the eCIB databases is exclusively granted to financial institutions that have obtained membership through the State Bank of Pakistan.
Two types of reports are created from the eCIB system:
Individuals and sole proprietors fall under the “Consumer Borrower” category, and their credit information is linked to their Computerised National Identity Card Number (CNIC) or Old National Identity Card Number in case of CNIC numbers not being available with financial institutions. The system also includes details of consumer payment history for the past 12 months, encompassing late payments, overdue amounts and write-offs, which are reflected in the Consumer Credit Information Report (CIR).
Partnership and corporate entities, both listed and unlisted, are classified as “Corporate Borrowers”. The Corporate Credit Information Report (CIR) provides a comprehensive overview of their financial standing, including outstanding liabilities (both funded and non-funded), overdue amounts, litigation-related data, write-offs (over the last 15 years) and details of any rescheduling or restructuring efforts (over the last five years).
Go to the official website of the State Bank of Pakistan by typing it on your preferred search engine or using the URL if you know it.
Look for the section dedicated to eCIB or credit information services on the SBP’s website. This is where you can access your credit report.
If you are a beginner, you must sign up for an account. It usually requires adding personal data for verification purposes. But if you already have an account, log in by using your details.
When logged in, hover over the option that lets you request your eCIB report. This is typically labelled “Request Credit Report” or something similar.
You must add details such as your CNIC number or other identifying information. Ensure the details you add are valid.
The system may conduct a verification process to confirm your identity, which may be done by sending a confirmation code to your listed phone number or email address.
Once your identity is verified, you can access your eCIB report. It will display details of your credit history, including any late payments, defaults or other relevant information.
Carefully review your eCIB report to ascertain the authenticity of the information. Pay close attention to any late payments or discrepancies.
If you find any inaccuracies in your report, contact the related reporting bank or financial institution to resolve disputes or errors.
To keep your eCIB report clean, prioritise paying your financial obligations on time, including loan instalments, credit card payments and utility bills.
By following these guidelines and maintaining financial responsibility, you can ensure that your eCIB report remains clean, increasing your chances of being approved for loans and other financial services. Bear in mind that financial institutions use this report to assess your creditworthiness, so a clean report is essential.