Sunday 5/13/2018
Tuesday, January 25, 2022   09:18:32
Validation: Creating Trust
About ICS

About ICS

Monday 5/14/2018

About ICS (Iran Credit Scoring Co.) _ the first and only private credit bureau of Iran

The Iran Credit Bureau was formed in 2007.

The objectives of the ICS, which have the support of Central Bank of Iran and Ministry of Economic Affairs and Finance, are as follows:

  • To establish a credit information system in Iran as same as other private credit bureaus around the world.
  • To help the banks and other credit based business that can assess the creditworthiness of their customers.
  • To assist the lowering of the cost of credit
  • To enable faster decisions in providing credit
  • To provide banks with other value added services in the field of credit reporting and credit scoring systems.

ICS complies fully with the Doing Business annual reports and world bank methodology in the field of getting credit index. So with ICS credit reporting system:
  • Data on firms and individuals are distributed.
  • Both positive credit information (for example, original loan amounts, outstanding loan amounts and a pattern of on-time repayments) and negative information (for example, late payments and the number and amount of defaults) are distributed.
  • Data from retailers or utility companies are distributed in addition to data from financial institutions.
  • At least two years of historical data are distributed. 
  • Data on loan amounts below 1% of income per capita are distributed.
  • By law, borrowers have the right to access their data in the largest credit bureau or registry in the economy. 
  • Banks and other financial institutions have online access to the credit information.
Bureau credit scores are offered as a value added service to help banks and other financial institutions assess the creditworthiness of borrowers

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