our commitment to banking secrecy
Ishenim's data-exchange system fully complies with the Law "On Banking Secrecy."
First, each of our 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 issues credit reports exclusively to members. We do not disclose information to third parties! Furthermore, the member may only make an inquiry in response to an application for credit.
Third, a credit report contains only the fact that the debtor has a loan in a certain amount, and does not specify the lender.
our commitment to security
Ishenim is the longest operating credit bureau within the Commonwealth of Independent States. Our commitment to vigilance in data protection is therefore backed by a spotless record, and not by untested promises.
Principle components of Ishenim's multi-tiered approach to security include:
- location in a building under 24-hour guard
- the use of an advanced encoding system (AES)
- 256-bit encryption for data exchange, double the level of protection required for commercial banks in the USA
- special software that confirms the identify of computers from which information requests are made
- the obligatory use of alphanumeric passwords
- internal monitoring for suspicious activity in information flows
- frequent back up and storage of the database, in an encrypted form, in an off-site location
- industry-standard policies regulating the handling of data by bureau coworkers.
our commitment to accuracy
Ishenim strives for 100% accuracy in its database. Membership imposes strict requirements for the presentation of faithful information, and its reliability is subject to subsequent verification. Our specially developed software all but removes human error in the bureau's handling of data.
In the rare instances when due to Ishenim's error a credit history contains a confirmable inaccuracy, we enter the necessary correction at no cost to the person and member businesses affected.
our commitment to complete coverage
The compilation of credit histories in the Kyrgyz Republic is relatively new. Still, in a short period of time Ishenim has created the nation's leading centralized, searchable database.
In accordance with recommendations of the World Bank (see what is a “best practices” credit bureau?), the Credit Information Bureau "Ishenim"™ collects information on individuals (physical persons) as well as businesses (juridical persons), and maintains both negative and positive data. Inquiries may also be made for group loans.
In collaboration with two foreign experts, Ishenim has adopted a plan to gather comprehensive information on credit histories. By the end of the year 2006, we expect our database to contain the records of the vast majority of loan holders in Kyrgyzstan.
