Oman Credit and Financial Information Centre (Mala’a) signed a Memorandum of Understanding (MoU) with Jusoor Foundation on Sunday. It pertains to providing credit and financial information about Jusoor Foundation’s service providers, individuals and suppliers or project executing corporations. The information will be used to assess the clients’ solvency and creditworthiness as stipulated in the Royal Decree 38/2020.
This collaboration comes as part of Mala’a’s role as a national databank that helps decision makers to take the right course of action based on clear and reliable data. The MoU was signed by Aadil bin Khalifa al Saadi, managing director of Mala’a, and Ahmed bin Ibrahim al Naqbi, acting executive director of Jusoor Foundation.
Mala’a was established through Royal Decree 38/2019 by the Late His Majesty Sultan Qaboos bin Said. The centre includes members from the banking, financial, insurance, and telecom sectors, as well as SMEs funds. The centre also includes several government and private registries as data providers.
Mala’a provides a database of credit and financial information on a national level. It helps its members and beneficiaries to assess their clients’ solvency, and therefore reduce credit risks, improve loans quality, and reinforce financial inclusion in the sultanate, relying on state-of-art technologies and global standards.
Jusoor is a non-profit social responsibility foundation that aims at the development of the community by implementing sustainable social projects, such as the social arm of Sohar Aluminium, Vale and OQ.