What Are the Responsibilities of the Saudi Credit Bureau 'SIMAH'?

The Saudi Credit Bureau 'SIMAH' is responsible for the accurate collection and saving of credit information for individuals and businesses. It does this through its two programs, 'SIMATI' for individuals, launched in 2004, and 'SIMAT' for the business sector, launched in 2009. This information is presented to financial institutions, under the supervision of the Saudi Central Bank. SIMAH also provides financial and credit information that assists these institutions in predicting borrowers' behavior, thereby supporting decision-making processes to improve their ability to analyze credit risk and assess the borrower's ability to repay their long-term financial obligations. Consequently, this enhances risk management for financing agencies and maintains the efficiency of credit operations.

SIMAH was established in 2002 and commenced its operations in the Kingdom of Saudi Arabia in 2004. It is currently classified among the largest credit information bureaus in the Middle East. Its operations align with the aspirations of Saudi Vision 2030 in terms of ensuring stability and growth across all economic sectors and achieving sustainable development.