Please use the contact us link if this list does not answer your questions.
What is a "credit history"? - What is a "subject of credit history" (SCH)?
- What is a "credit inquiry"?
- Doesn't the issuance of credit reports violate banking secrecy?
- I made an inquiry but received no credit history in response - how can I evaluate the applicant's creditworthiness?
- Does Ishenim loan money?
- Does Ishenim recommend that lender issue or not issue loans?
- May I receive credit reports without becoming a member?
- Who can be a member of Ishenim?
- Does Ishenim offer credit reports on both individuals (physical persons) and businesses (legal persons)?
- Does Ishenim offer credit reports for group loans?
- Does Ishenim compile both negative and positive data?
- What is negative data?
- What is positive data?
- Why would want positive data included in my credit history?
- Should I fear compilation of my credit history?
- Do I have a right to inspect my credit history?
- What if my credit history contains an error?
- How does Ishenim authenticate identification?
- How does Ishenim protect its database (e.g., from hackers)?
- What equipment is necessary to participate in Ishenim's data-exchange system?
What is a "credit history"?
A credit history contains negative and positive data on a SCH's pattern of repaying loans, often referred to as "creditworthiness." Ishenim provides this information in the form of a credit report.
A credit history contains negative and positive data on a SCH's pattern of repaying loans, often referred to as "creditworthiness." Ishenim provides this information in the form of a credit report.
What is a "subject of credit history" (SCH)?
A "subject of credit history" is an individual (physical person) or business (juridical person) who has purchased goods or services on credit, in whole or in part. A physical person may obtain a loan in his or her own name, or as a member of a group.
In theory, every resident of the Kyrgyz Republic with a telephone, gas, electricity, or similar account, as well as every debtor under a private dogovoryonnost, is a SCH.
A "subject of credit history" is an individual (physical person) or business (juridical person) who has purchased goods or services on credit, in whole or in part. A physical person may obtain a loan in his or her own name, or as a member of a group.
In theory, every resident of the Kyrgyz Republic with a telephone, gas, electricity, or similar account, as well as every debtor under a private dogovoryonnost, is a SCH.
What is a "credit inquiry"?
An inquiry is simply a member's formal request to receive the credit history of an applicant for a loan. Inquiries themselves are relevant to risk analysis and may be contained in credit histories. For example, two or three attempts to obtain a loan within a short period of time might signify that an applicant is searching for the most competitive rate, whereas 10 tries during the same period can signal that he or she is in a desperate financial situation.
An inquiry is simply a member's formal request to receive the credit history of an applicant for a loan. Inquiries themselves are relevant to risk analysis and may be contained in credit histories. For example, two or three attempts to obtain a loan within a short period of time might signify that an applicant is searching for the most competitive rate, whereas 10 tries during the same period can signal that he or she is in a desperate financial situation.
Doesn't the issuance of credit reports violate banking secrecy?
No. First, each of Ishenim's members requires loan applicants to sign a consent form, by which they agree to the transfer of their information to, and the use of their information by, a credit bureau. Second, Ishenim works on the basis of "reciprocity," meaning that its gives credit reports exclusively to members, when they are considering issuing credits. Third, the credit history contains only the fact that the debtor has a loan in a certain amount, and does not specify the lender.
No. First, each of Ishenim's members requires loan applicants to sign a consent form, by which they agree to the transfer of their information to, and the use of their information by, a credit bureau. Second, Ishenim works on the basis of "reciprocity," meaning that its gives credit reports exclusively to members, when they are considering issuing credits. Third, the credit history contains only the fact that the debtor has a loan in a certain amount, and does not specify the lender.
I made an inquiry but received no credit history in response - how can I evaluate the applicant's creditworthiness?
The fact that an applicant is not found in our database means that he is not on any known "black list." While the combination of positive and negative data is optimal in risk analysis, the absence of negative information provides the loan officer with significantly greater protection than he would have had without ordering a credit history.
The fact that an applicant is not found in our database means that he is not on any known "black list." While the combination of positive and negative data is optimal in risk analysis, the absence of negative information provides the loan officer with significantly greater protection than he would have had without ordering a credit history.
Does Ishenim loan money?
No. Ishenim, like other credit bureaus, is an information agency, and not a lender. Individuals and businesses seeking credits are encouraged to refer to our member institutions, listed under "about us."
No. Ishenim, like other credit bureaus, is an information agency, and not a lender. Individuals and businesses seeking credits are encouraged to refer to our member institutions, listed under "about us."
Does Ishenim recommend that lender issue or not issue loans?
No. That judgment is left to member institutions. Some might be comfortable with a higher level of risk, whereas others pursue conservative crediting strategies. Ishenim simply provides credit reports, and does not interfere in lending decisions.
No. That judgment is left to member institutions. Some might be comfortable with a higher level of risk, whereas others pursue conservative crediting strategies. Ishenim simply provides credit reports, and does not interfere in lending decisions.
May I receive credit reports without becoming a member?
No. Reciprocity, an ethical principle strictly adhered to by reputable credit bureaus throughout the world, requires that only institutions providing credit information receive reports from Ishenim. This arrangement is essential to securing integrity in the use of Ishenim's database.
No. Reciprocity, an ethical principle strictly adhered to by reputable credit bureaus throughout the world, requires that only institutions providing credit information receive reports from Ishenim. This arrangement is essential to securing integrity in the use of Ishenim's database.
Who can be a member of Ishenim?
Banks, micro-finance institutions (MFIs), credit unions (CUs), non-bank lenders, foreign credit bureaus, and businesses that carry credit risk (such as telecommunications companies, utilities, and mail-order companies) may join Ishenim. Please click on the "contact us" button if you would like to receive additional information.
Banks, micro-finance institutions (MFIs), credit unions (CUs), non-bank lenders, foreign credit bureaus, and businesses that carry credit risk (such as telecommunications companies, utilities, and mail-order companies) may join Ishenim. Please click on the "contact us" button if you would like to receive additional information.
Does Ishenim offer credit reports on both individuals (physical persons) and businesses (legal persons)?
Yes. This practice meets one of the World Bank's six criteria for a "best practices" credit bureau (see "who we are, what we do," above).
Yes. This practice meets one of the World Bank's six criteria for a "best practices" credit bureau (see "who we are, what we do," above).
Does Ishenim offer credit reports for group loans?
Yes. In April 2004 Ishenim introduced a procedure for evaluating the creditworthiness of groups.
Yes. In April 2004 Ishenim introduced a procedure for evaluating the creditworthiness of groups.
Does Ishenim compile both negative and positive data?
Yes. Again, this practice meets one of the World Bank's six criteria for a "best practices" credit bureau.
Yes. Again, this practice meets one of the World Bank's six criteria for a "best practices" credit bureau.
What is negative data?
Negative data refers to instances of the failure to repay according to the terms of a credit (loan) agreement. Information on the restructuring of a loan, as well as on extinguishment of a debt through bankruptcy, may be included in this category.
Negative data refers to instances of the failure to repay according to the terms of a credit (loan) agreement. Information on the restructuring of a loan, as well as on extinguishment of a debt through bankruptcy, may be included in this category.
What is positive data?
Positive data describes instances of repayment according to the terms of a credit (loan) agreement, meaning on time and in the proper installments.
Positive data describes instances of repayment according to the terms of a credit (loan) agreement, meaning on time and in the proper installments.
Why would want positive data included in my credit history?
The answer is simple: availability of positive data allows you to obtain subsequent loans at lower interest rates. This benefit is sometimes referred to as "reputation collateral."
The answer is simple: availability of positive data allows you to obtain subsequent loans at lower interest rates. This benefit is sometimes referred to as "reputation collateral."
Should I fear compilation of my credit history?
No. Ishenim only provides this information: (1) to members; and (2) when there is a legal basis for transfer, such as in accordance with a consent agreement between a member and a SCH. Credit reports may only be requested when a SCH wishes to obtain a loan. Persons and businesses using them for other purposes carry liability under legislation of the Kyrgyz Republic.
In post-Soviet countries a distrust of centralized databases is common and understandable. However, as the World Bank has recognized, the existence of effective credit bureaus is a pre-condition to sustainable economic growth. Credit Bureaus either function or will soon open in the vast majority of former-communist nations, and the general public increasingly understands the valuable role that they play.
No. Ishenim only provides this information: (1) to members; and (2) when there is a legal basis for transfer, such as in accordance with a consent agreement between a member and a SCH. Credit reports may only be requested when a SCH wishes to obtain a loan. Persons and businesses using them for other purposes carry liability under legislation of the Kyrgyz Republic.
In post-Soviet countries a distrust of centralized databases is common and understandable. However, as the World Bank has recognized, the existence of effective credit bureaus is a pre-condition to sustainable economic growth. Credit Bureaus either function or will soon open in the vast majority of former-communist nations, and the general public increasingly understands the valuable role that they play.
Do I have a right to inspect my credit history?
Yes. Ishenim provides one report per year free of charge to persons visiting its office (see the "contact us" button).
Additionally, Ishenim is in the conducting negotiations to expand this service through the oblast and raion offices of member institutions.
Yes. Ishenim provides one report per year free of charge to persons visiting its office (see the "contact us" button).
Additionally, Ishenim is in the conducting negotiations to expand this service through the oblast and raion offices of member institutions.
What if my credit history contains an error?
Ishenim has accepted a commitment to investigate every claim of a mistake in a credit history. We immediately contact the member institution that provided us with the disputed information.
If Ishenim is the source of the error, we fix it free of charge and provide a corrected credit report to the SCH/loan applicant and every lender that received an inaccurate version. The same service is provided at no cost to the SCH/loan applicant if the member institution acknowledges providing incorrect data.
Ishenim assumes no responsibility for disputes arising between a SCH/loan applicant and a member concerning credit histories.
Ishenim has accepted a commitment to investigate every claim of a mistake in a credit history. We immediately contact the member institution that provided us with the disputed information.
If Ishenim is the source of the error, we fix it free of charge and provide a corrected credit report to the SCH/loan applicant and every lender that received an inaccurate version. The same service is provided at no cost to the SCH/loan applicant if the member institution acknowledges providing incorrect data.
Ishenim assumes no responsibility for disputes arising between a SCH/loan applicant and a member concerning credit histories.
How does Ishenim authenticate identification?
As is common practice for credit bureaus, Ishenim relies on a combination of biographic data (last name, first name, patronymic; passport number; date of birth, taxpayer identification number, if applicable, etc.) to establish that a loan applicant is who he says he is. Information subject to change, such as a woman's last name or a passport number, is updated through standard procedures.
We are proud that there has not been a single case of identity fraud concerning the issuance of credit reports.
Nonetheless, Ishenim is working with local government partners to adopt additional safeguards, such as a real-time verification with the Ministry of Interior that the passport presented to a lender was not reported as lost or stolen.
As is common practice for credit bureaus, Ishenim relies on a combination of biographic data (last name, first name, patronymic; passport number; date of birth, taxpayer identification number, if applicable, etc.) to establish that a loan applicant is who he says he is. Information subject to change, such as a woman's last name or a passport number, is updated through standard procedures.
We are proud that there has not been a single case of identity fraud concerning the issuance of credit reports.
Nonetheless, Ishenim is working with local government partners to adopt additional safeguards, such as a real-time verification with the Ministry of Interior that the passport presented to a lender was not reported as lost or stolen.
How does Ishenim protect its database (e.g., from hackers)?
Upon joining Ishenim, members receive a specially designed software package. Inquiries are made and answered via 256-bit encryption, double the level of protection demanded for American banks. Ishenim also has also adopted strict policies regarding access by its employees to credit histories.
We are proud to report that there has not been one instance of unauthorized access to our database.
Upon joining Ishenim, members receive a specially designed software package. Inquiries are made and answered via 256-bit encryption, double the level of protection demanded for American banks. Ishenim also has also adopted strict policies regarding access by its employees to credit histories.
We are proud to report that there has not been one instance of unauthorized access to our database.
What equipment is necessary to participate in Ishenim's data-exchange system?
First, members must have a computer with the following minimum specifications:
Second, internet access is required. If a firewall is in place, the protocol TCP must be authorized for port number 23 999
First, members must have a computer with the following minimum specifications:
- 128 MB of operational memory
- Windows NT 2000
Second, internet access is required. If a firewall is in place, the protocol TCP must be authorized for port number 23 999
