Mala’a Signs a Membership Agreement with Ithbar

Mala’a signed a membership agreement with Ithbar, a local Omani platform that offers financial solutions and crowdfunding services, to utilize Huwiya (Electronic Know Your Customer) and Murshid (Customized Credit Report) services. The agreement aims to support Ithbar to digitally onboard customers and get customized reports tailored for the corporate’s needs.

The agreement was formalized with signatures from Mr. Bassam Al Jamali, Mala’a’s General Manager, and Mr. Ahmed Awlad Thani, Ithbar CEO. The agreement marks a significant milestone in supporting financial technology and promoting financial inclusion across the Sultanate.

Launched earlier this year, Murshid provides members with an instant decision-making tool that supports their risk assessment processes. By offering a precise evaluation of a customer’s creditworthiness, credit lenders can make informed decisions about extending credit.

Huwiya is set to revolutionize the AML and compliance requirements in the Sultanate, by enabling members to instantly access their customers’ data through a connection with public and private databases. This platform enhances efficiency, saving both time and effort for members and their customers.

Ithbar is an Omani platform that offers financial solutions and crowdfunding services, that aims to forge leading economic entities by connecting projects and companies with investors.