Mala’a received 740000 credit report applications, 37 membership pacts signed

Mala’a received 740000 credit report applications, 37 membership pacts signed

Muscat: Mala'a has received 740, 000 credit report applications and 37 membership agreements signed so far in 2020, a senior executive of the company said. "Mala'a plays a major role in improving the financial environment of the Sultanate by enhancing financial inclusion, creating a fertile environment for ease of doing business, and reducing credit risks by supporting various institutions in making informed financial decisions, Aadil bin Khalifa Al Saadi, Managing Director of Mala'a, said. Mala'a also contributes to Oman's economic growth by improving the quality of loans without interfering with the financing decision-making process, and supports individuals and corporates to improve their creditworthiness which leads to a financially literate society that is capable of informed financial planning. Mala'a has so far signed membership agreements with credit providers from the banking and finance, telecommunications, small and medium enterprises funds, and the insurance sector, in addition to data providers such as Royal Oman Police (ROP) and the Ministry of Commerce and Industry and Investment Promotion (MoCIIP). It has also signed several Memorandums of Understanding (MoU) with government entities and non-profit organisations, Al Saadi said. "These agreements were a cornerstone of the infrastructure of the National Data Bank on which Mala'a continues to