Saturday, Jan 12, 2019 | Jumada Al Awwal 6, 1440
Oman Central Bank signs deal to set up credit bureau
Plans have been announced to
set up a credit bureau in Oman following a deal signed between the country's
central bank and Creditinfo Group.
The global credit information and
fintech services provider said it has inked a partnership with the Central Bank
of Oman to support the development, roll-out and management of a credit registry
A credit bureau is an organisation
providing information on individuals' borrowing and bill-paying habits.
It said the contract with CBO will
create a credit bureau too process credit data sourced from both banks and
non-banking entities like providers of leasing finance, SME sector lenders,
insurance companies, telecommunication companies, utilities and government data.
“We are thrilled to start this new
adventure with the Central Bank of Oman and provide the full potential of
intelligent information, software and analytics solutions to this project,” said
Stefano Stoppani, CEO at Creditinfo.
“Backed by international know-how and
local market support, the infrastructure we will deliver will set a high bar in
the Omani market and the Gulf Region. We look forward to working with CBO, and
to deliver these capabilities to our financial services clients globally.”
Tahir bin Salim Al Amri, executive
president Central Bank of Oman, added: “Oman Credit Bureau once launched will
become a national one-stop-shop for credit and financial information in the
Established in 1997 and headquartered
in Reykjavík, Iceland, Creditinfo runs more than 30 credit bureaus.