Bahrain-based BENEFIT signs bilateral deal with Oman’s Mala’a

By Shilpa Annie Joseph, Official Reporter
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BENEFIT-Malaa Partnership
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Bahrain-based BENEFIT has signed a bilateral agreement with the Oman Credit and Financial Information Center (Mala’a), in an effort to enhance the frameworks of mutual cooperation between the Gulf countries.

The agreement intends to exchange credit information between Bahrain Credit Reference Bureau (BCRB), operated by the BENEFIT Company, with the Oman Credit and Financial Information Center in the capital Muscat.

According to the company, the agreement is an extension of the strategic scheme to further connect the GCC countries, which previously saw similar agreements signed with the Kingdom of Saudi Arabia and the state of Kuwait. It entails the exchange of corporate credit information between the two entities which will then be made available digitally for all members.

Abdulwahed AlJanahi
Abdulwahed AlJanahi

“I am very thrilled to be announcing that we have signed a bilateral agreement with Mala’a. This move will benefit not only Bahrain and the Sultanate of Oman, as its effects will ripple across the whole GCC. We are all working towards the important and common goal of enhancing the credit information industry in the region.  I can confirm that our rigorous studies of the credit market and the challenges and the opportunities that surround it are ongoing, and this agreement comes as a great milestone in this process.”

On the other hand, the General Manager of Mala’a Center, Mr. Bassam Al-Jamali, expressed his pleasure towards the signing of the bilateral agreement between Mala’a and BCRB, which he expects will enhance cooperation between the two sides and establish new links for communication and knowledge exchange, in addition to supporting the banking sector and improving the overall frameworks of credit and financial risk management.

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