Credit Data Rules (Miscellaneous Provisions), 5778-2017

כללי נתוני אשראי (הוראות שונות), תשע"ח-2017

Published: 2017-12-26Consolidated Hebrew text as of 2025-05-04 · Last amended 2026-08-09

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By virtue of my authority under sections 12(b), 19(a)(9), 22(g), 30(d), 33, 38(d), 43, 60(b), 67(a)(4) and 109 of the Credit Data Law, 5776-2016 (hereinafter – the Law), with the consent of the Minister of Justice in respect of sections 3, 11, 13 and 16, with the consent of the Minister of Finance in respect of section 3, and with the approval of the Economics Committee of the Knesset, I hereby prescribe the following Rules:

Chapter I: Interpretation

Definitions§

In these Rules –

"banking business day" – a banking business day as defined in the Banking Directives (Customer Service) (Date of Credit and Debit of Cheques), 5752-1992;

"Financial Services Supervision Law (Regulated Financial Services)" – the Financial Services Supervision Law (Regulated Financial Services), 5776-2016;

"identifying document" – as defined in the Credit Data Regulations;

"Credit Data Regulations" – the Credit Data Regulations, 5778-2017.

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Chapter II: Operation of a Credit Data Service

Permitted occupations of a credit bureau§

(a)A credit bureau may, in addition to its occupation as an operator of a credit data service, also engage in the following fields of activity:

(1)provision of financial information aggregation services;

(2)provision of credit cost comparison services;

(3)provision of budget management services;

(4)provision of economic advice;

(5)construction of economic models;

(6)conducting market surveys and economic research;

(7)identity and data verification;

(8)risk management, including, inter alia, development of tools for the identification, assessment and measurement of risks.

(b)The Governor shall report to the Committee on findings relating to misuse of credit data in the framework of the activity of a credit data bureau in any of the fields prescribed in subsection (a), if such findings are discovered in the framework of supervision and control activities, and shall also provide information regarding the prices charged by credit bureaux for these services; a report as aforesaid shall be submitted to the Committee in a separate report and at the time of submission of a report pursuant to section 113 of the Law and for the period prescribed in that section.

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Chapter III: Transfer of Information to the Database and its Retention

Authorised Source Required to Transfer Information to the Database§

An authorised source listed below shall transfer credit data for the purpose of their inclusion in the database, provided that it has extended credit to customers in an annual volume exceeding NIS 250,000,000:

(1)a holder of a licence to provide credit, within its meaning in the Financial Services Supervision Law (Regulated Financial Services);

(2)a holder of a licence to provide deposit and credit services, within its meaning in the Financial Services Supervision Law (Regulated Financial Services);

(3)a holder of an issuance licence, within its meaning in the Financial Services Supervision Law (Regulated Financial Services);

(4)a holder of a licence to operate a credit brokerage system within its meaning in section 25q of the Financial Services Supervision Law (Regulated Financial Services);

(5)an institutional body, as defined in the Financial Services Supervision Law (Insurance), 5741-1981;

(6)an acquirer as defined in section 36i of the Banking Law (Licensing).

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Chapter IV: Customer's Request for the Non-Inclusion of Credit Data concerning the Customer in the Database and its Cancellation

Manner of submitting a customer's request§

(a)A customer shall apply to the Bank of Israel with a request for the non-inclusion of credit data concerning the customer in the database, or with a request to cancel the customer's request for non-inclusion of credit data concerning the customer in the database, in one of the following ways:

(1)by an online form on the Bank of Israel's website;

(2)through a staffed telephone call centre of the Bank of Israel; the telephone number and hours of operation of the call centre shall be as published by the Bank of Israel on its website;

(2)the application may be made in the Hebrew language or in the Arabic language;

(3)a customer applying to the Bank of Israel with a request for non-inclusion of credit data or cancellation of a request as referred to in subsection (a) shall be identified by one of the methods prescribed in regulation 5(1) of the Credit Data Regulations, with the necessary modifications;

(4)the Bank of Israel shall inform the customer of the implications of the customer's request before it is executed; the notification shall be on the Bank of Israel's website if the customer applied by means of the online form on the website, or by means of the telephone call centre if the customer applied in that manner.

Time limits for processing a customer's request§

Where a customer's request as referred to in section 4 has been submitted to the Bank of Israel, the request shall be processed within one banking business day.

Notice of execution to the customer regarding the customer's request§

Upon completion of the processing, a written notice of execution shall be sent to the customer regarding the customer's request, in the manner the customer chose to receive the notice in the application.

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Chapter V: Customer's Request that Credit Data concerning the Customer shall not be Transmitted from the Database and its Cancellation

Manner of submitting a customer's request§

(a)A customer shall apply to the Bank of Israel with a request for the non-transmission of credit data concerning the customer for the purpose of compiling a credit report, or with a request to amend or cancel the customer's request for non-transmission of credit data concerning the customer, in one of the following ways:

(1)by an online form on the Bank of Israel's website;

(2)through a staffed telephone call centre of the Bank of Israel; the telephone number and hours of operation of the call centre shall be as published by the Bank of Israel on its website.

(b)The application may be made in the Hebrew language or in the Arabic language.

(c)A customer applying to the Bank of Israel with a request for non-transmission of credit data, amendment or cancellation of a request as referred to in subsection (a), shall be identified by one of the methods prescribed in regulation 5(1) of the Credit Data Regulations, with the necessary modifications.

(d)A request pursuant to subsection (a) may be submitted in respect of a specific credit provider, in respect of a specific type of credit providers, or in respect of all credit providers pursuant to regulation 16 of the Credit Data Regulations.

Time limits for processing a customer's request for non-transmission of credit data concerning the customer§

Where a customer's request as referred to in section 7 has been submitted to the Bank of Israel, the request shall be processed within one banking business day.

Notice of execution to the customer regarding the customer's request§

Upon completion of the processing, a notice of execution shall be sent to the customer regarding the customer's request, in the manner the customer chose to receive the notice in the application.

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Chapter VI: Credit Provider's Request to Receive a Credit Indication from a Credit Bureau

Manner of informing the customer in advance and explicitly of the intention to obtain an indication§

10.

(a)A credit provider wishing to obtain an indication from a credit bureau as to whether to enter into a credit transaction with the customer pursuant to Section C of Chapter VII of the Law shall notify the customer orally, if this is possible in the circumstances of the matter, and shall also display a notice regarding the credit provider's intention to do so in the payment area or on the customer service form, in a clearly visible manner and in clear and legible letters, in the Hebrew language and in the Arabic language; a notice as aforesaid shall also include an explanation that for the purpose of obtaining the indication, the credit bureau will submit to the Bank of Israel a request to obtain the credit data concerning the customer that are included in the database.

(b)The notice pursuant to subsection (a) shall specify the cases in which the credit provider will apply to the credit bureau to obtain the indication; a credit provider who enables the conduct of an indication check in respect of a customer before the customer arrives at the payment area shall indicate this in the said notice.

(c)At the top of the notice pursuant to subsection (a) there shall appear a heading worded as follows: "Notice regarding the receipt of a credit indication".

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Chapter VII: Provisions concerning a Paid Attorney-in-Fact

Conditions that a paid attorney-in-fact must meet in order to receive a regular data aggregation report in respect of a customer from a credit bureau§

11.

(a)An individual requesting to receive a regular data aggregation report in respect of a customer by reason of being a paid attorney-in-fact shall meet the following conditions:

(1)an adult;

(2)an Israeli citizen or resident of Israel;

(3)not convicted in Israel of an offence which, by reason of its nature, gravity or circumstances, renders the person unfit, in the opinion of the Supervisor, to act as a paid attorney-in-fact.

(b)A corporation requesting to receive a regular data aggregation report in respect of a customer by reason of being a paid attorney-in-fact shall meet the following conditions:

(1)registered in Israel;

(2)the corporation, its controlling shareholder or its office holder has not been convicted in Israel of an offence which, by reason of its nature, gravity or circumstances, renders the person unfit, in the opinion of the Supervisor, to act as a paid attorney-in-fact.

(c)The Supervisor may refuse a paid attorney-in-fact's request to receive a regular data aggregation report in respect of a customer if one of the following applies:

(1)the applicant has been declared bankrupt, or, if a corporation – has resolved on a voluntary winding-up, or the court has ordered a stay of proceedings, appointed a receiver, or ordered its winding-up;

(2)an indictment has been filed against the applicant in respect of an offence referred to in subsection (a)(3) or subsection (b)(2) and a final judgment has not yet been given in the matter, or a criminal investigation is being conducted against the applicant on suspicion of committing such an offence;

(3)circumstances exist by reason of which the Supervisor considers that the applicant is unfit to serve as a paid attorney-in-fact, or, if a corporation – circumstances as aforesaid exist in relation to an office holder in the corporation or to a person who controls it.

(d)In this section, "office holder" – excluding a director.

Types of paid attorneys-in-fact in respect of whom the Supervisor shall maintain a register§

12.

The Supervisor shall maintain a register of all paid attorneys-in-fact who meet the conditions prescribed in section 11.

Uses that a paid attorney-in-fact is permitted to make of the information in a regular data aggregation report§

13.

(a)A paid attorney-in-fact shall not transmit to any entity credit data concerning the customer or any other information provided to the paid attorney-in-fact by the customer for the purpose of advisory services, and shall also not transmit the results and conclusions of the advice given to the customer, unless the customer has explicitly and in writing requested the paid attorney-in-fact to do so and has specified in the request the name of the entity to which the customer requests that credit data or other information as aforesaid be transmitted.

(b)In providing financial advisory services to a customer in the field of credit pursuant to regulation 6 of the Credit Data Regulations, a paid attorney-in-fact may use the customer's regular data aggregation report for any of the following:

(1)advice regarding the reasonableness of the credit terms received from various credit providers;

(2)presenting desirable or preferable credit terms to the customer as compared to the credit terms received or that the customer may receive;

(3)advice regarding the customer's credit rating and how it may be improved;

(4)presenting credit proposals from various lenders, subject to the explicit consent of the customer to receive them and provided that they relate to existing credit or to credit that the customer has requested to receive for the customer's needs.

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Chapter VIII: Notices

Notice to customers of the right to receive a data aggregation report free of charge§

14.

A notice to customers of their right to receive a data aggregation report free of charge once a year pursuant to section 38(d) of the Law shall be published by the Bank of Israel in clear and simple language in three daily newspapers with wide circulation in Israel, two of which are in the Hebrew language and one in the Arabic language, and also on the Bank of Israel's website.

Notice to a customer of the commencement of data collection§

15.

A notice to a customer of the commencement of the collection of credit data concerning the customer in the database pursuant to section 109 of the Law shall be sent by the Bank of Israel to the customer's address as it appears in the Population Registry.

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Chapter IX: Creation of Identified Information for the Purposes of the Database

Creation of identified information for the purpose of operating the database§

16.

Credit data and any other information concerning a customer may be linked to the customer's identifying particulars, through the creation of identified information, in the cases listed below, to the extent required for this purpose, provided that it is not possible to carry out these actions without access to identified information of a customer:

(1)for the purpose of performing the functions of the Supervisor in accordance with the Supervisor's authority under section 66 of the Law, except in relation to the granting of licences under section 66(b)(1) of the Law or the issuing of directives under section 66(b)(4) of the Law;

(2)for the purposes listed below:

(a)handling a customer's application in accordance with the provisions of Section E of Chapter XI of the Law;

(b)correcting information contained in the database concerning a customer in accordance with the provisions of Chapter VIII of the Law;

(c)investigation of data in the framework of an examination of a malfunction or suspected malfunction in the technological systems serving the database;

(d)examination of harm or suspected harm to information security or privacy protection;

(e)legal proceedings between the Bank of Israel and a customer, a user of credit data, a paid attorney-in-fact, an information source or a credit bureau.

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RegulationsAdministrative Law

כללי נתוני אשראי (הוראות שונות), תשע"ח-2017

credit data rules

credit data law

miscellaneous provisions credit

5778-2017

2017 credit data

credit information rules

personal credit data

credit bureau regulations

credit reporting law

data protection credit

Credit Data Rules (Miscellaneous Provisions), 5778-2017

Chapter I: Interpretation

Definitions§Cite ✦

Chapter II: Operation of a Credit Data Service

Permitted occupations of a credit bureau§Cite ✦

Chapter III: Transfer of Information to the Database and its Retention

Authorised Source Required to Transfer Information to the Database§Cite ✦

Chapter IV: Customer's Request for the Non-Inclusion of Credit Data concerning the Customer in the Database and its Cancellation

Manner of submitting a customer's request§Cite ✦

Time limits for processing a customer's request§Cite ✦

Notice of execution to the customer regarding the customer's request§Cite ✦

Chapter V: Customer's Request that Credit Data concerning the Customer shall not be Transmitted from the Database and its Cancellation

Manner of submitting a customer's request§Cite ✦

Time limits for processing a customer's request for non-transmission of credit data concerning the customer§Cite ✦

Notice of execution to the customer regarding the customer's request§Cite ✦

Chapter VI: Credit Provider's Request to Receive a Credit Indication from a Credit Bureau

Manner of informing the customer in advance and explicitly of the intention to obtain an indication§Cite ✦

Chapter VII: Provisions concerning a Paid Attorney-in-Fact

Conditions that a paid attorney-in-fact must meet in order to receive a regular data aggregation report in respect of a customer from a credit bureau§Cite ✦

Types of paid attorneys-in-fact in respect of whom the Supervisor shall maintain a register§Cite ✦

Uses that a paid attorney-in-fact is permitted to make of the information in a regular data aggregation report§Cite ✦

Chapter VIII: Notices

Notice to customers of the right to receive a data aggregation report free of charge§Cite ✦

Notice to a customer of the commencement of data collection§Cite ✦

Chapter IX: Creation of Identified Information for the Purposes of the Database

Creation of identified information for the purpose of operating the database§Cite ✦

Definitions§

Permitted occupations of a credit bureau§

Authorised Source Required to Transfer Information to the Database§

Manner of submitting a customer's request§

Time limits for processing a customer's request§

Notice of execution to the customer regarding the customer's request§

Manner of submitting a customer's request§

Time limits for processing a customer's request for non-transmission of credit data concerning the customer§

Notice of execution to the customer regarding the customer's request§

Manner of informing the customer in advance and explicitly of the intention to obtain an indication§

Conditions that a paid attorney-in-fact must meet in order to receive a regular data aggregation report in respect of a customer from a credit bureau§

Types of paid attorneys-in-fact in respect of whom the Supervisor shall maintain a register§

Uses that a paid attorney-in-fact is permitted to make of the information in a regular data aggregation report§

Notice to customers of the right to receive a data aggregation report free of charge§

Notice to a customer of the commencement of data collection§

Creation of identified information for the purpose of operating the database§