BENEFIT Expands GCC Credit Network

BENEFIT Expands GCC Credit Information Network Through Integration with Oman Credit and Financial Information Centre "Mala’a"

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, announced the successful completion of the integration between Bahrain Credit Reference Bureau (BCRB) and the Oman Credit and Financial Information Centre "Mala’a", marking a significant milestone in the expansion of the GCC Credit Bureau Service and strengthening access to cross boarder corporate credit information across the GCC. 

This milestone reflects BENEFIT continued commitment to enhancing the regional credit information ecosystem and fostering greater collaboration and connectivity among GCC credit Bureaus. Furthermore, it enables financial institutions to access more comprehensive credit data on companies and businesses with regional activities, while further expanding the cross-border credit information exchange network, which currently includes integration with the Saudi Credit Bureau "SIMAH" and Kuwait Credit Information Network Company "Ci-Net", in addition to the latest integration with "Mala’a" in the Sultanate of Oman. The integration further supports regional economic growth by enabling financial institutions to make more informed credit decisions based on reliable credit information.

Through this integration, BCRB members can seamlessly access credit reports of companies operating in the Sultanate of Oman through the Bahrain Credit Reference Bureau portal or via an Application Programming Interface (API) providing greater efficiency and flexibility in the credit assessment process. This capability will help financial institutions accelerate customer onboarding, enhance risk assessment process, support prudent lending decisions and better evaluate credit exposures of businesses operating across the GCC market.

Ms. Hessa Husain, Deputy Chief Executive for Bahrain Credit Reference Bureau and Data Services, stated: "The integration between the Bahrain Credit Reference Bureau and the Oman Credit and Financial Information Centre "Mala’a" represents a significant step in advancing the region’s credit information infrastructure, and also highlights the role of reliable data in supporting financing decisions and improving risk management. As credit information becomes more connected and comprehensive, financial institutions are better positioned to understand customer needs, deliver faster and more flexible credit services, and make decisions based on a clearer view of companies’ credit profiles."

She added: "At BENEFIT, we view this step as part of a broader direction to strengthen GCC collaboration in the financial sector and support the transition towards a more advanced credit information ecosystem that can keep pace with business and investment activity across regional markets. We believe that connecting credit bureaus across the GCC contributes to a more transparent financial environment and provides institutions with practical tools that support confident growth, while maintaining the highest levels of efficiency and reliability in the management of data."