Mala’a Signs an Agreement with Credit Oman to Enhance Corporate Credit Assessment

Oman Credit and Financial Information Center (Mala’a) signed an agreement with Credit Oman to utilize (Murshid) service, a strategic move aimed at strengthening the ability to assess corporate creditworthiness and mitigate potential financial risks.

The agreement was signed by Mrs. Manahil Jaffar, Acting General Manager of Mala’a, and Sheikh Khalil Al Harthy, CEO of Credit Oman. Mrs. Manahil Jaffar, Acting General Manager of Mala’a, said, “The agreement to leverage the ‘Murshid’ service will assist Credit Oman by improving the accuracy of corporate credit information and enhancing the risk assessment process. This will contribute to better decision making and the identification of potential risks associated with corporate clients.”

Sheikh Khalil Al Harthy also added, “This service will further support Credit Oman’s ongoing efforts to bolster Omani exports by providing export credit insurance solutions to safeguard businesses against non-payment risks from buyers both locally and internationally. This, in turn, enhances exporters’ confidence and enables them to expand into global markets securely.”

Oman Financial and Credit Information Center (Mala’a) was established in 2019 under Royal Decree No. 38/2019, offering credit reporting services and innovative credit solutions. The center plays a crucial role in building an integrated national financial system in Oman. The center’s goal is to create a comprehensive database of credit and financial information across the Sultanate, allowing financial institutions to make informed credit decisions based on accurate and reliable data. This advanced system enables members to assess clients’ financial capacity more effectively, contributing to better loan quality and reduced financial risks. The center also plays a key role in reducing default rates, enhancing financial stability, and supporting economic growth in Oman.