Oman Credit and Financial Information Center (Mala’a)  participates in COMEX 2024

Oman Credit and Financial Information Center (Mala’a) has participated in the banking and financial pavilion during the 32^nd edition of the Global Technology Show (COMEX) at Oman Convention and Exhibition Center. The exhibition, which was sponsored by the Ministry of Transport, Communications, and Information Technology, brought together over 500 participants from institutions, companies, and investors.

At the event, Mala’a showcased four key services to visitors. The first was the Electronic Know Your Customer (e-KYC) platform, developed in collaboration with the Central Bank of Oman. This initiative aims to enhance identity verification procedures and access to the personal information of bank customers in the Sultanate. It directly integrates with various government records, such as the Royal Oman Police, improving verification methods for both individuals and corporations and facilitating banking transactions without the need for additional referrals or document submissions.

To help users understand the factors influencing their credit scores and the practices to maintain a healthy credit score, Mala’a provided an Estimated Credit Score Calculator. This educational tool, available on Mala’a website, familiarizes users with credit scoring through a series of questions related to financial behaviors. Based on their answers, users receive an estimated credit score. Actual credit scores can be obtained by requesting a credit report through the website. Manahil Jaafar, Corporate Services Manager, stated, ‘Understanding credit scores for both individuals and corporates has become essential for accessing credit services. The center is committed to employing technology to facilitate access to credit scores, whether through self-service options or by contacting the center.’

It is noteworthy that Mala’a will soon launch Mala’ati mobile application, enabling individuals and companies to obtain their credit reports via smartphones without the need to contact the center directly. Visitors to the booth learned about the registration process for the application, the necessary steps to obtain a report, as well as the features and information included in the application.

Mala’a Report is one of the center’s prominent services, providing comprehensive credit and financial information for individuals and corporates, including personal information for individuals and commercial information for corporates sourced from relevant government records. The report offers a comprehensive overview of the financial behaviors and transactions of clients with financial and credit institutions, including credit history, indebtedness, repayment history, guarantees, inquiries, and more.

The booth witnessed significant interaction and attendance, as Mala’a team provided comprehensive information about Mala’a’s services and products to visitors using touchscreens and tablets.