HSBC has signed a membership agreement with Oman Credit & Financial Information Centre to enable the Bank to have access to enriched customer data for credit decisions including credit scores.
The membership agreement states that Mala’a provides a central database of credit and financial information at the national level with the purpose of assisting members in making credit and/or business relation decisions through the assessment of solvency of their customers leading to reduced credit and financial risks and extension of financial inclusion in the Sultanate of Oman.
Mala’a was established by Royal Decree 38/2019 by his late Majesty Sultan Qaboos-May Allah Rest his Soul in Peace- issued on May 8th 2019. The Center includes members from the banking, financial, insurance, and telecom sectors, as well as SMEs funds. The center also includes several government and private registries as Data providers. As per the Royal Decree, Mala’a provides a database of credit and financial information on a national level, to aid its members and beneficiaries to assess their clients’ solvency, and therefore reduce credit risks, improve loans quality, and reinforce financial inclusion in the Sultanate, relaying on a state-of-art technologies and global standards.
HSBC is one of the world’s largest banking and financial services organizations, offering a range of global businesses: Wealth and Personal Banking, Commercial Banking, and Global Banking & Markets.
Oman Credit & Financial Information Centre (Mala’a) and the National Center for Financial Information signed a cooperation program to collaborate on significant aspects of Anti-Money Laundering and Combating Financing of Terrorism (AML-CFT) laws on Tuesday, March 8th, 2022, at a formal event held at NCFI headquarter. The Program was signed by Mr. Bassam Al Jamali, […]April 4, 2022
Oman Credit and Financial Information Centre (Mala’a) won the Global Business Outlook Award for the “Fastest Growing Consumer & Commercial Credit Information Reporting in the GCC” for the year 2021. The achievement is a testament for Mala’a’s efforts in developing the credit system in the Sultanate since its inception in 2019 with the support of […]March 7, 2022
The Central Bank of Oman management and Board of Governors, appointed Mr. Bassam Al Jamali a General Manager to Oman Credit and Financial Information Centre (Mala’a) on November 21st. Mr. Bassam Bin Tariq Bin Abdul Redha Al Jamali brings in a vast experience of over 24 years in the Central Bank of Oman in the […]