CIC Credit Connect 5.4.1

We, the National Credit Information Centre of Vietnam (CIC), are a government office operating under the oversight of The State Bank of Vietnam.

Our primary objective is to facilitate credit reporting activities throughout Vietnam, with a focus on promoting banking safety, financial inclusion, and overall economic development as a non-profit organization.

Under the guidance of the Prime Minister and the Governor of The State Bank of Vietnam, we have implemented various programs and solutions to enhance Vietnam's competitive edge by establishing a transparent credit reporting system and ensuring equal lending opportunities for individuals and enterprises, thereby preventing illegal lending practices. As part of these efforts, we have developed the CIC Credit Connect application (available at htttps://cic.gov.vn).

The CIC Credit Connect Application represents a pivotal solution in our pursuit of "equal access to credit for all." It fulfills the following criteria:

1. CIC serves a dual role: (i) providing certain free credit reporting services to data subjects, such as credit reports, credit scoring, and ratings, and (ii) acting as an intermediary that facilitates interactions between borrowers and lenders who are credit institutions authorized under the 2017 Vietnam Credit Institution Law.
2. Credit institutions listed on the app must comply with the lending regulations outlined in the Vietnamese legal framework, including Circular 39/2016 and other directives issued by the Governor. These regulations cover aspects such as negotiable interest rates, lending terms (short-, medium-, or long-term), and application processing time. Credit institutions are subject to supervision not only by CIC for listing and credit reporting activities but also by the Banking Supervisory Agency of the State Bank of Vietnam.
3. Borrowers who register on the app benefit from privacy protection laws and have the freedom to select a lender based on suitable offers provided free-of-charge.

Personal Loan Products and Services

Credit institutions that publish their service package information on our website and mobile application commit to adhere to Vietnamese laws and regulations set forth by the State Bank of Vietnam regarding loan-related matters during specific periods. These regulations include, but are not limited to:

• Provisions on loan terms: (i) Short-term loans (less than 01 year), (ii) Medium-term loans (01 to 05 years), and (iii) Long-term loans (05 years or more).
• Negotiable interest rate agreements established between lenders and borrowers as stipulated by the State Bank of Vietnam.
• Provisions on agreements for early repayment before the loan's due date, as specified in credit contracts.