Muscat\ Oman Credit and Financial Information Center (Mala’a) signed a memorandum of Understanding with the Ministry of Social Development on November 8th 2020, to provide the MoSD with Mala’a Report and Mala’a Score for individuals and corporates. The MoU aims at assisting the ministry to evaluate the creditworthiness of its consumers and beneficiaries, in order to help decision makers to take calculated decisions based on clear and reliable data. The MoU was executed by Aadil Bin Khalifa Al Saadi, Managing Director of Oman Credit and Financial Information Center, and Al Mutasim Bin Hilal Al Hosni, Assistant Manager of Administrative and Financial Affairs in the Ministry of Social Development.
The agreement states that Mala’a will provide Mala’a Report and Mala’a Score for individuals and corporates after receiving the required documents, including a written consent from the authorized parties to extract the Mala’a Report and submitting it to the MoSD. This cooperation comes as one of Mala’a’s initiatives to raise credit awareness among the public, private and civil sectors, which in turn will contribute to the Sultanate’s economic and financial growth and help reinforce rational decision-making culture.
Oman Credit and Financial Information Center includes members from the banking, financial, insurance, and telecom sectors, as well as SME funds. It is also connected to more than 17 government registries of information providers. As per the Royal Decree no 38\2020, Mala’a is to provide a database of credit and financial information on a national level, to assist its members or beneficiaries evaluate their client’s solvency, and therefore reduce credit risks, improve loans quality, and reinforce financial inclusion in the Sultanate, according to state-of-art technologies and global standards.
MUSCAT, July 1: Oman Credit and Financial Information Centre (Mala’a) offers Credit Bureau services to enhance the creditworthiness of the individuals and corporates in the Sultanate in line with Oman Vision 2040, said Mala’a’s Managing Director Mr. Aadil Al Saadi. This supports financial inclusion by ensuring responsible financing in addition to improved credit risk management. […]August 9, 2021
Muscat- June Oman Credit and Financial Information Center (Mala’) was established in 2019 by Royal decree 38\2019 as the first pillar of the Central Bank of Oman’s 2019-2021 Strategy to enhance the business environment towards implementing Oman 2040 Vision. The center offers credit and financial reports and scores for individuals and corporates and aims to be Oman’s national […]November 29, 2020
Muscat\ Oman Credit and Financial Information Center (Mala’a) signed a Memorandum of Understanding with Jusoor Foundation on November 29th 2020 that states providing credit and financial information about Jusoor Foundation’s service providers, individuals and supplying or project executing corporates. The information will be used to assess the clients’ solvency and creditworthiness as stipulated in the […]