HSBC Middle East Joins Mala’a Membership Network 

On March 24, 2024, HSBC Middle East entered into a membership agreement with the Oman Credit & Financial Information Centre (Mala’a) to become a Banking sector member. 

The agreement outlines Mala’a’s provision of a centralized repository of credit and financial data aimed at aiding members in evaluating the creditworthiness of their clientele. This strategic measure is crucial for mitigating credit and financial hazards for banks, thereby promoting responsible lending. 

As Oman’s National Data Bank, Mala’a encompasses members from the banking, financial, and telecommunications sectors, as well as SME funds. Additionally, it interfaces with key national registries like the Royal Oman Police and the Ministry of Commerce, Industry, and Investment Promotion. Mala’a furnishes its beneficiaries with comprehensive Credit Reports, empowering them to conduct thorough risk assessments of potential customers.

HSBC is one of the world’s largest banking and financial services organizations. Their global businesses serves around 42 million customers worldwide through a network that covers 62 countries and territories.