SIMAH Consumer

Launched by SIMAH in 2004, SIMAH Consumer provides detailed credit...

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SIMAH Business

Launched by SIMAH in 2009, SIMAH Business is the first...

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Added Value Services

​ Alerts Management System (AMS) The Alerts Management System offers comprehensive...

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National Data Pooling Project (NDPP)

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You Ask .. We answer

What is the Saudi Credit Bureau (SIMAH)?

SIMAH is a credit information agency that collects, analyzes and provides detailed and up-to-date credit information on both individuals and institutions in the Kingdom of Saudi Arabia.

When was SIMAH founded and when did SIMAH effectively begin operations?

SIMAH was founded in 2002. And SIMAH began its operations in April 2004.

Who owns SIMAH?

SIMAH’s ownership is shared by ten Saudi Arabian banks operating in the Kingdom of Saudi Arabia.

What is a credit report?

A credit report contains all of the information related to a client’s credit transactions with SIMAH members. With regard to natural persons (i.e. individuals), the report includes his/her identification number; place of residence; current and previous places of work; marital status and personal information. Meanwhile, with regard to juridical persons (i.e. corporations/institutions), the report includes the organization’s commercial registry, address and any other relevant information. Credit reports contain all current and previous debts, any securities granted to the client, compliance with due dates, any late payments or disputed debts, in addition to any lines of credit in default or on which the debtor is late on payments and that, after being requested by the creditor, were resolved or cancelled. Credit reports also cover any purchases made in installments, futures contracts or any other finance products and the client’s compliance in making payments. With regard to legal proceedings, credit reports include any financial prosecution brought against the client in addition to cases of default, bankruptcy or debt settlement, listing the legal decisions issued in the cases and the names of the liquidators and bankruptcy trustees as well as values of properties and debts, dates of payment and liquidation costs. Finally, credit reports also include bounced checks, their values, dates and any actions taken in their regard in addition to unpaid payments requested by official bodies and any information of a financial nature that affects the client’s creditworthiness. Credit reports are issued by SIMAH after collecting a client’s personal and credit information from members who are required to update information periodically.

Does my credit report determine the approval or denial of my credit request?

Your credit report does not determine the approval or denial of your credit requests. Rather, the credit report simply presents available credit information without offering any opinions or recommendations regarding the decision to grant or deny credit. A member may grant you credit even if you have defaulted on previous loans and, alternately, they may deny you credit even if you have never defaulted.

What is the benefit of reviewing my credit report?

Your credit report offers you opportunity to view all of your past credit transactions and your compliance in meeting payments. Moreover, the report clarifies your financial state and can help you select the financial products most appropriate for your financial capabilities. Also, by regularly reviewing your credit report, you can ensure that the credit information provided to credit providers is correct.

How can I create an account to get my credit report?

You can create an account to get your credit report through your bank. After registration, you will receive a text message containing your password, which you can use to obtain your credit report and begin benefitting from SIMAH’s services.

Who is responsible for updating my information with SIMAH?

SIMAH members are responsible for updating your credit information in an organized and periodic manner.

How long does it take to update my credit information?

The updating period differs for each SIMAH member. However, members are required to update your credit information regularly at least once per week.

Can members provide SIMAH with information that they know to be incorrect?

No, members cannot provide SIMAH with any information they know to contain errors and that they believe may contain incorrect data.

Do I have the right to object to SIMAH regarding information included in my credit report?

Yes, you have the right to object to any information included in your credit report at any time. SIMAH is required to investigate the matter and issue a decision within 30 days of receipt of the objection.

If my objection to SIMAH is rejected, how can I appeal the decision?

You may submit a complaint to the Council for the Review of Infractions and Settlement of Disputes Related to Credit Information, located in Riyadh on King Fahd Road, on the first floor of the Gulf Monetary Council. The Council is responsible for reviewing all infractions related to credit information disputes.

What do I do if I find incorrect information in my credit report?

If you discover an inconsistency in your credit report, you can submit a request explaining your objection to the incorrect information. SIMAH will correct the mistake as soon as it is determined that the information is in fact false.