SUBIC: By 31 March the digital information platforms of the borrowers must operate by the servicers

By letter sent yesterday (19.03.2024) by the Secretary-General for Finance and Private Debt Management, God Alabama, to credit institutions, reminds, on the basis of the relevant legislation, of their obligation to launch a special digital information platform for borrowers to provide personalised information by 31 March 2024. In order to ensure the rights of borrowers arising from this obligation, the Secretary-General requested that the administrators be informed of the progress of the work by all these companies to operate the digital platform at the specified deadline. (a) information on the amounts due by the borrower, with a detailed record of the amounts due as capital, interest, commissions, any other charges, as well as the applicable interest rate, (b) the frequency of the instalments, their amount, the date of payment of each instalment, the current balance, and the bill of service of the debt.