Republic of the Philippines
R.A. 9510 otherwise known as Credit Information System Act (CISA) is a law passed in 2008 creating the Credit Information Corporation (CIC).
The Securities and Exchange Commission (SEC) is the lead government agency to implement the CISA, in coordination with other relevant government agencies in the adoption of the IRR.
CIC shall be owned 60% by the National Government (NG) and 40% by industry associations of banks/quasi-banks and association of consumers
To address the need for a comprehensive, centralized, and reliable credit information system intended to:
Refers to an existing borrower or loan applicant or anyone who in anyway applies or avails of a credit facility.
Refers to any loan, credit line, guarantee, or other form of financial accommodation.
Refers to information or data concerning the credit performance of a borrower, such as, but not limited to information on timely repayment and delinquency.