Mashreq signs a membership Agreement with Mala’a

Mashreq, a leading financial institution in the MENA region, has officially entered into a membership agreement with Oman Credit and Financial Information Centre (Mala’a), under the foreign banks category.

This agreement grants Mashreq access to a comprehensive database of credit and financial information, which will aid in making well-informed credit decisions, conducting financial capability assessments for clients, and evaluating potential financial risks.

The agreement was signed by Mrs. Manahil Jaffar, Acting General Manager of Mala’a, and Mr. AlSalt Al Kharusi, Country Head of Mashreq Oman. Mrs. Manahil stated: “We are pleased to welcome Mashreq as a member. This partnership will enable Mashreq to utilize our extensive database of financial and credit information, which is essential for fostering effective decision-making and risk management in the financial sector.” She added, “This partnership marks an important step toward a more stable and stronger financial ecosystem in Oman, promoting sustainable economic development across the region.”

Mr. AlSalt Al Kharusi declared, “Oman’s financial sector is at a pivotal moment, with digital transformation shaping its future. By integrating Mala’a’s credit intelligence into our banking framework, we aim to empower businesses with deeper insights and smarter financial tools that drive sustainable economic growth.”

Oman Credit and Financial Information Centre (“Mala’a), was established in 2019 under Royal Decree No. 38/2019. The center plays a pivotal role in developing a comprehensive national financial system in Oman. Mala’a’s advanced systems enable members to assess clients’ financial capacity, contributing to improved loan quality and reduced financial risks. The center is integral in lowering default rates, enhancing financial stability, and supporting economic growth in Oman.