FIs must submit eCIB data by 10th of every month: SBP

In order to bring uniformity in eCIB data submission timeline, all member financial institutions are required to submit their monthly data to the SBP by the 10th of every month, instead of 15th, the central bank said Friday.
As per Regulation-7 of the regulations issued under Credit Bureaus Act 2015, wherein the Licensed Credit Bureaus are required to collect data from their member Financial Institutions (FIs) by the 10th of each month. Further, Regulation O-8 of Prudential Regulations for Microfinance Banks (MFBs), wherein MFBs are also required to submit their data to SBP on a monthly basis by the 10th of every month.
As per directives, all eCIB member FIs are also required to submit their monthly data to SBP by the 15th of the following month. In order to bring uniformity in eCIB data submission timeline, it has now been decided that all member financial institutions will submit their monthly data to SBP by the 10th of every month instead of 15th. This step will also reduce the time lag of availability of the eCIB data and will also facilitate the FIs in making prudent lending decisions.
Accordingly, the SBP has advised for submission of the eCIB data for the month of March 2020 to SBP by April 10, 2020 and thereafter by 10th of every month.