The Saudi Central Bank (SAMA) has required all financial entities in the Kingdom to send and share individual data related to real estate financing with Saudi Credit Information Company (SIMAH), in a move aimed at enhancing the transparency of the financial sector and raising the efficiency of creditworthiness assessment.
The Central Bank of Saudi Arabia (SAMA), in an official circular, stressed the need to fully comply with the regulations governing the sector and the provisions of the Personal Data Protection Law (PDPL). <In an official circular, the Central Bank stressed the need to fully comply with the regulations and instructions governing the sector, including the provisions of the Personal Data Protection Law. He stressed that this step comes within the efforts to develop the system of information linkage between financial entities, which contributes to raising the level of reliability and reducing credit risks associated with financial transactions in various economic activities.
The Credit Information System (CIS) aims to increase the level of reliability and reduce credit risks associated with financial transactions in various economic activities. <The Credit Information System aims to establish a comprehensive framework for the collection, exchange and protection of credit data, as the system covers all government and private companies and entities that possess or deal with credit information. The system requires government entities to provide licensed companies with the data available to them in accordance with controls that ensure the prevention of monopolization of information, and requires companies to collect, update and exchange credit information continuously and securely.
The Credit Information System aims to establish a comprehensive framework for the collection, exchange and protection of credit information. <SIMAH is the first credit data center in the Kingdom, managing a huge system to store and classify information about individuals and companies, collected from various credit granting economic sectors. It also provides accurate and up-to-date credit reports that help banks and financial institutions assess risk and make more accurate credit decisions. The Saudi Credit Information Company (SACIC) is the key point in the process of assessing creditworthiness and reducing defaults, and plays a pivotal role in enhancing the stability and robustness of the Saudi financial sector, making it one of the most prominent and largest credit information companies in the Middle East region.
SIMAH emphasizes that SIMAH provides accurate and up-to-date credit reports that help banks and financial institutions assess risk and make more accurate credit decisions. SIMAH is committed to providing high-quality information products and services, based on international best practices, to support its partners and achieve the highest levels of satisfaction and reliability in the Kingdom's credit market.
SIMAH emphasizes its commitment to provide high-quality information products and services based on international best practices.








