NBO Signs Membership Agreement with Mala’a

National Bank of Oman has signed a membership agreement with Oman Credit & Financial Information Centre to take part in building better credit & financial society in Oman.

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 8^th 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. 

  National Bank of Oman SAOG (“NBO” or the “Bank”) was the first incorporated Bank in the Sultanate of Oman established in 1973 as a joint stock company, providing conventional and Islamic banking services.