Regulatory Alerts2017-02-28
Cooperation with Bayan Credit Bureau
The Saudi Arabian Monetary Authority (SAMA) issued this circular to mandate cooperation with Bayan Credit Bureau Company by requiring licensed banks and financing companies in the Kingdom to share credit information for commercial enterprises. This data-sharing initiative aims to enhance sector transparency and improve the assessment of financial obligations and creditworthiness for operating companies. The directive is grounded in existing Credit Information System regulations and the specific licensing of Bayan, with distribution limited to domestic banking and financing entities.
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