QatarQatar Credit Bureau: bank reporting and confidentiality duties
In force since .
A data brokers rule binding private bodies.
- Enforcement body
- Qatar Central Bank
- Instrument type
- a binding direction issued under an act
- Obligation class
- Governance
- Audit expectation
- none
What it requires
- If you are a bank, a financial institution or a company licensed to grant facilities, forward or installment sales or Ijara, provide the Qatar Credit Bureau with credit information or any necessary data according to QCB policies, and report on the status of all credit facilities and related returned cheques and keep them updated.
- If you are a bank, obtain a credit report on a customer from the Qatar Credit Bureau before entering into any credit relation or renewing or rescheduling a facility, and update the credit reports of all your customers via the Bureau every three months.
- If you handle credit information at a bank, a financial institution or the Bureau, keep the data private and secret and do not release it, even after your service ends, except where the law authorizes release.
- Do not exchange credit data between users except through the Qatar Credit Bureau, do not use it to influence a customer's reputation or goodwill or to commit fraud, and do not use it in any publication or marketing material.
These lines are LexLint's reading of the law's text.
What record it asks for
Logging duty
The Decision and Part IX item 5 and 6 state no record, log or documentation duty beyond reporting data to the Bureau. They carry no scope clause, so no territorial hook is read.
- Kind
- None
- As of
What this law does
Decision No. 5 of 2008 of the Qatar Central Bank requires banks, financial institutions and licensed credit, installment-sale and Ijara companies to provide the Qatar Credit Bureau with credit information or any necessary data according to QCB policies.
Under the Qatar Central Bank's Instructions to Banks, Part IX, every bank must obtain a credit report on a customer from the Qatar Credit Bureau before entering into any credit relation and update the credit reports of all its customers via the Bureau every three months.
The Decision makes the individuals involved in credit information and the Bureau's employees fully responsible for the privacy and secrecy of the data, and bars users from exchanging the data except through the Bureau or using it in any publication or marketing material. A member that reports false or incomplete data after earlier notices is subject to the fines of Law No. 13 of 2012 (articles 104 and 107).
When LexLint raises it
When your app profile says your app provides financial services or processes personal data.
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