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SIMAH shall be obliged to sign membership agreements approved by The Saudi Central Bank (SAMA) with any party that wishes to obtain credit information, and provide such parties with credit reports on the consumer. Such agreements shall indicate rights and obligations of the parties. That party will be designated after signing the agreement as a "member".
SIMAH may disclose the consumer’s credit report in the following situations.
SIMAH shall prepare regular records containing consumers’ names and their characteristics whether natural or judicial, their addresses and work locations, nature of their businesses and their credit information.
SIMAH shall prepare regular records containing the names of members and companies they are transacting with, whether they are sources of information or other companies governed by the Law and its Implementing Regulations , and the agreements and contracts ratified with each of them as well as their periods and conditions.
SIMAH shall take all necessary measures and precautions to ensure safety, validity, accuracy and integrity of information obtained according to the Law and its Regulations .SIMAH shall comply with the following:
SIMAH shall establish data and information security protection controls for the information it has or already possessed.
Prior to the issuance of any credit report , SIMAH shall:
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