Rights and Obligations of the Credit Information Center

To be specific, Circular 27 revised and supplemented the rights and obligations of the Credit Information Center with new regulations as follows:

- Develop and guide the coding system, information criteria, data file reporting templates, methods of information transmission; grant access rights to the system for users.- Collect, process, store, and secure credit information about borrowers from credit institutions, foreign bank branches, voluntary organizations, and individuals.- Publicize information on principles, scope of using credit information services, procedures for exploiting and using credit information services, fees for exploiting and using credit information services for users.- Sign contracts and collect fees for exploiting and using credit information services with using units and users in accordance with the regulations of the State Bank and CIC.- Determine service fee levels based on the principle of ensuring sufficient coverage of operating costs.- Organize the collection of user unit and user evaluations on credit information service quality at least once a year.- Sign memoranda of understanding, cooperation agreements, or service contracts with foreign credit information organizations, in accordance with the laws of each country, to cooperate in sharing experiences and exchanging credit information products.- ...

More details can be found in Circular 27/2017/TT-NHNN, which takes effect from July 1, 2018.

- Thanh Lam -

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