Article 53
Effective from 2019-12-10 - Dec 09 2019
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| 1. | Consumer Microfinance Company must, upon the approval of the Consumer, verify the consumer’s credit record to confirm solvency, repayment capacity and credit conduct. The confirmation of such must be documented in the finance file. |
| 2. | Upon the borrower’s consent, the Consumer Microfinance Company shall register the credit information of the borrower at one or more of the companies licensed to collect credit information according to the relevant laws, regulations and instructions. Such information shall be updated throughout the period of dealing with the borrower. |
| 3. | The Consumer Microfinance Company must decline the finance request in case of the absence of consent from the consumer or borrower mentioned in paragraphs (1) and (2) of this Article. |