Skip Ribbon Commands
Skip to main content

Our Obligations

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.

  • Based on the member's request and consent of the enquired consumer.
  • Based on a request from a competent dispute settlement authority.
  • Based on Central Bank's  request.

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:

  • No information shall be collected from any party or source prior to signing a membership agreement with that party.
  • No credit information shall be gathered from members unless such action is in compliance with defined criteria to SIMAH , that include administrative, technical and legal requirements approved by the Saudi Central Bank (SAMA)
  • SIMAH is committed to maintain confidentiality over credit information and data in its possession and share them exclusively with members, other bureaus, other persons and other related parties in accordance with The Law and its Regulations.
  • SIMAH shall take the necessary actions to ensure that there are reasons for requesting information by the member.
  • SIMAH is committed to inform the member with his obligations according to the Law and its Regulations.

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:

  • Verify the identity of the applicant and purpose of such a request ;
  • Obtain the member's undertaking that the information will not be used except for the reasons specified in the application and
  • Ensure accuracy, completeness and currency of the information it provides.