I-Score warns against fraudulent companies claiming to improve credit ratings

Hossam Mounir
2 Min Read

Executive chairperson of the Egyptian Credit Bureau I-Score, Mohamed Kafafi, has warned that there are some companies on social networks that claim they can improve the credit rating of bank customers and help them obtain loans in exchange for commission.

Kafafi said that these companies deceive the customers—neither they nor any person or entity, no matter the authority they have, can intervene in credit reports conducted by banks about their customers and registered in the company—not even I-Score itself.

According to the managing director of the company, Mohamed Refaat, anybody can check their own report at their convenience through a “self inquiry” request at branches of the member banks and companies in I-Score.

Refaat explained that if the customers find that there are mistakes in their data, they can object to and correct the report for free. That is a right for all citizens through I-Score directly, without a need for mediators. That process is done under the supervision of the Central Bank of Egypt, according to Refaat.

He noted that I-Score investigates the complaint submitted by the customer within 10 days at maximum and it is them sent to the bank conducting the report, which will reply to the complaint within 15 working days at maximum.

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