The State Bank of Pakistan (SBP) has observed that some financial institutions are either not filing requisite information or are providing incorrect data in some of the fields of the data collection formats to be submitted to its Credit Information Bureau.
“Notably, this information is used by both banks and financial institutions to assess the credit worthiness of prospective borrowers, as well as by the State Bank of Pakistan in its policy formulation,” the central bank said in its circular letter.
