Institutions should submit periodic statements containing the amount and type of credits opened in favour of their customers as well as the amount and type of credits used by customers

At periods specified in the directives for the implementation of these regulations all institutions shall submit statements to the “Risks Bureau” on each customer, separately when the tot……dit extended to him by the Institution concerned reaches or exceeds, in the last working day of the month being reported, the limit, in UAE Dirhams. determined by UAE Central Bank’s Board of Directors

These statements should include all credits meeting the requirements specified under Article ( 4 ) of these Regulations whatever their currency might be, whether in UAE Dirham or in foreign currency, and whoever is the beneficiary, whether or not he be a businessman.

The statements shall differentiate between credits according to their types and / or to the collaterals given against them, in accordance with the classification specified in the the directives for the implementation of these regulations .

( i ) To ensure the confidentiality of the operations of the Risks Bureau and the secrecy of the data it receives from Institutions or sends to them a coding system, to be determined by the Central Bank, shall be adopted to denote Institutions and Customers.

ii The Central Bank may take any other measure which ensures the secrecy of information pertaining to banking risks.

( Banking Risks Statements should be prepared according to special forms determined by the Central Bank. Institutions should obtain the necessary printed materials from the Central Bank.

( ii ) Each statement should be prepared in two copies stamped with the Institution's seal and duly signed by the Manager and marked to the effect that te information included therein corresponds to the records.

The required statement should be handed to the Risks Bureau before the twenty fifth day of the month following the month covered by the statements.

The Risks Bureau shall consolidate the data provided by the Institutions according to the rules defined in Articles (3–9) of these regulations, on each of their customers. The Risks Bureau shall, upon demand, inform a requesting institution the total credits granted and used by any customer from all institutions.

Reporting referred to in Article (10) of these Regulations shall differentiate between total credits according to their types on the one hand and collaterals given against them on the other hand. Such reporting shall be effected in accordance with the prodedure to be defined in the directives for the implementation of these regulations.

All measures to ensure the secrecy of reporting shall also be observed in the same manner followed to assure the confidentiality of the statements provided by the Institutions on the credits extended to their customers.

The risks Bureau expenses shall be borne by the Institutions mentioned in Paragraph ( b ) of Article ( 1 of these regul……..

The Risks Bureau shall provide the Institutions with the printed matters and forms defined in these regulations and in the directives for their implementation, whether these printed matters concern statements of banking risks or requests for specific information.

The Risks Bureau expenses shall be distributed amongst the institutions in proportions equal to the ratio of total loans of each institution to the aggregate consolidated loans of all institutions as at the 31st of December of each year.

Each institution should pay annually the amount incurred by it relating to the Risks Bureau expenses within a month of notification.

The Central Bank shall bear no responsibility of whatever nature or cause as a result of losses or damage due to delay, negligence or errors by institutions with regard to the data submitted by them or by the Risks Bureau.

The provisions of Article (107) of Union Law No. (10), (1980) shall apply in the event of delay by an institution in submitting the data specified in Article ( 3 ) and ( 4 ) of these regulations.

The Governor of the Central Bank shall, in accordance with the requirements of public interest lay down the directives necessary for the implementation of these regulations.