|
|
|
Media
Release
|
|
|
|
PIC Solutions and SIMAH launch value added data services |
23 November 2011, Cape Town – PIC Solutions, a leading credit risk solutions provider in the Middle East Africa region, has partnered with Saudi Credit Bureau (SIMAH), the official consumer and commercial Saudi credit bureau, to provide value added bureau data services. The joint venture will be named Qarar; an Arabic word that means “decision” and is intended to reference the value proposition of the venture.
SIMAH is currently the only consumer credit bureau in Kingdom of Saudi Arabia (KSA) and is owned jointly by the ten of the largest commercial banks in KSA including Saudi Hollandi Bank, National Commercial Bank, Riyad Bank, Saudi Investment Bank, Banque Saudi Fransi, Arab National Bank, SAMBA Financial Group, Bank Al Jazira, SAAB Bank and Al-Rajhi Bank. SIMAH provides both consumer as well as commercial services with positive and negative information.
Qarar’s offerings will include a specialist range of services such as Credit Bureau Scoring consultancy and implementation support, scorecards, batch account management solutions, hosted options for acquisitions and collections, analytical bureau reporting, training workshops, collections strategies,
HealthChecks and fraud consulting.
Nabil Al Mubarak, CEO of SIMAH, says:
“SIMAH is expanding robustly in the market and thus we sought a partner capable of providing value added data services to the data with the breadth of expertise that could simultaneously accommodate the increased regulation and sophistication of the KSA consumer credit industry. This is one of the most significant industry developments in this market since the inception of the bureau itself. SIMAH is providing all basic functions of a credit bureau with positive and negative information and now it is time to go further with some key added value services ”.
Ian Read, Director, PIC Solutions International states:
“Saudi Arabia is the largest and most commercially active state in the Middle East with a population of more than 27 million which puts the scale of the venture into perspective. SIMAH, the only consumer credit bureau in the Kingdom and the most mature credit bureau experience in the region, currently has more than 130 member organisations representing both government and private sectors. In addition, the market is about to experience further regulation which will require a number of additional market sectors to submit data to SIMAH. The country is experiencing changes which will certainly bring exciting challenges for Qarar and our clients”.
|
|
|
|
|
About SIMAH
Established in 2002 to operate within the context of the current banking acts and regulations issued by Saudi Arabian Monetary Agency (SAMA), the Saudi Credit Bureau (SIMAH ) is the first and sole licensed national credit bureau offering consumer and commercial credit information services to respective members in the Kingdom of Saudi Arabia. SIMAH aims at raising the credit culture in the society to all its slides either consumers or commercials; generating credit environment based on transparency and providing reliable and up-to-date credit information; helping credit providers to take right and objective finance decisions via providing them with collected, categorised, and analysed credit information so that they could measure their clients credit history and solvency; helping clients to have uncountable diversified banking services; creating best environment for the creditors to have quick and best finance decisions and reducing payment risks and raising clients’ awareness to benefit from their credit history by less commissions and requirements.
Consumer Services | Commercial Services | Added Value Services
Riyadh | KSA
www.SIMAH.com.
Contact:
Adel Altwaijri
Chief Marketing Officer
DDI +966 1 2188755 | P.O. Box#8859, Riyadh 11492 | Kingdom of Saudi Arabia
Email :
aaltwaijri@simah.com
|
|
|
|
|
