The newly established Saudi Credit Bureau, the only one of its kind in the Middle East, has announced that its database would in future help small- and medium-sized enterprises (SMEs) qualify for bank loans.
In a joint interview with Arab News, Nabil A. Al-Mubarak, general manager of Saudi Credit Bureau, and James Kavanagh, said the bureau, established and funded by the Kingdom’s commercial banks, has already stored data on thousands of customers in the first phase of their operations, which began in March this year.
Two new banks — the Gulf International Bank and the Emirates Bank — will be co-opted on SCB’s board of directors in conformity with the instructions of the Saudi Arabian Monetary Agency (SAMA), which inspired the launch of the bureau.
