The company «Bayan Credit Information» is making intensive preparations to launch its operations and specialized services focused on assessing the risks of commercial entities in Saudi Arabia’s commercial and investment sectors, with the aim of contributing to the realization of Vision 2030, starting early next year, 2017.

The Minister of Commerce and Investment, Dr. Majid Al-Qasabi, emphasized the importance of the role that «Bayan» is expected to play in providing programs and applications that contribute to building and analyzing vital databases for the economy, and producing reliable commercial, credit, and financial information that provides a full range of options for financial and credit decision-makers at companies and small and medium-sized enterprises in the Kingdom in particular.

«Bayan» is a credit information company licensed by the Saudi Arabian Monetary Authority, and was established in December 2015 by a decision of the Minister of Commerce and Investment as a joint-stock company with a capital of 100 million riyals. It is owned by a group of strategic partners from the private and public sectors, namely: Thiqah Company, Takamul Company, Al-Bilad Bank, Al-Inmaa Bank, and Gulf International Bank. It helps build trust in Saudi companies—particularly small and medium-sized enterprises—and identifies risks associated with transactions with other parties, in addition to improving credit efficiency and liquidity management, and increasing the level of intra-Saudi trade. It also focuses on ensuring the quality of credit data and supporting and encouraging related financial industries such as factoring, credit insurance, and guarantees.