Upon the establishment of Saudi Credit Bureau (SIMAH), the world class credit bureau in MENA region which provides credit information on both consumers and commercial entities, the credit industry has changed radically.

In 2004, the first few months witnessed only few enquiries; those didn't even exceed the right-hand fingers. With less than 14 employees in one-floored apartment at the Riyadh's diplomatic quarter, team spirit was high though the low number of enquiries.    

With the passage of time, credit market has grown rapidly and SIMAH also penetrated to the market professionally. Total number of consumers reports stored in SIMAH database is about 15 million up to the end of 1^st quarter of 2019 which explains Saudi Arabia Depth of Credit Information Index being 8 out of 8 in 2018.

By achieving maturity of credit information industry, maximal stability of existing financial systems and build credit industry perception through promoting it as a neutral towards the local community and adding to the national economy, SIMAH works to meet Financial Sector Development Program's (FSDP) objectives of highlighting the competitive position of the Saudi Arabia's financial sector in the Middle East and in the world. SIMAH's strategic goals go in line with Vision 2030 by creating a platform for financial industry leaders to meet, communicate and establish new relationships, exchanging experiences and discussing challenges and best practices for the development of the financial sector and offering investment opportunities, stimulating competition and attracting investment in the Saudi financial sector.

Creatively, SIMAH has become the first credit reporting agency in the MENA region to have its own commercial trademarks. Issuing more than 82 million credit reports since 2004 till end of December 2018 with data quality score of % 99.4, SIMAH's newly  trademarks come as a further phase of SIMAH new identity. New trademarks registered by Ministry of Commerce and Investment include FINDATA (a new innovative marketing concept in the credit reporting industry); SIMATI (consumer reporting system); SIMAT (commercial reporting system) and MOARIF (Legal Entity Identifier). MOARIF is the first Local Operating Unit in the MENA accredited by Global Legal Entity Identifier Originations (GLIEF), run by SIMAH and covers 17 countries. Total number of credit instruments at SIMAH is more than 47 million Cis.

SIMATI and SIMAT reporting systems are very important in today's financial system. Creditors consider information held by these systems a primary factor when they evaluate the creditworthiness of data subjects and monitor the credit circumstances of consumers. This information flow enables credit markets to function more efficiently and at lower cost than would otherwise be possible. Well-functioning financial markets contribute to sustainable growth and economic development, because they typically provide an efficient mechanism for evaluating risk and return to investment, and then managing and allocating risk. Financial infrastructure (FI) is a core part of all financial systems. The quality of financial infrastructure determines the efficiency of intermediation, the ability of lenders to evaluate risk and of consumers to obtain credit, insurance and other financial products at competitive terms. 

Information quality is the basic building block of an effective credit reporting environment. Accuracy of data implies that such data is free of error, truthful, complete and up to date. SIMAH's financial quality score reaches %99.94. It is well preserved in SIMAH that inaccurate data may lead to numerous problems, including unjustified loan denials or higher borrowing costs. Quality in credit reporting industry also means that data is sufficient and adequate, implying that relevant detailed information is captured, including negative as well as positive data; information from as many relevant sources is gathered, within the limits established by law; information is sufficient in terms of the period over which observations are available. SIMATI and SIMAT have relevant, accurate, timely and sufficient data -including positive- collected on a systematic basis from all reliable, appropriate and available sources, and retain this information for a sufficient amount of time.

To realize its members' commercial needs, SIMAH has developed in 2019 benchmarks reports and SIMAH 360. During the last 15 years, SIMAH has generated 110,000 financial reports while the total number of consumers registered at SIMAH is more than 1,1 million individuals. 

Benchmarking reports are detailed reports that compare key metrics of the organization's products and portfolio to the competitors. With this type of report, credit providers would be more able to prepare budgets, make informed business decisions & develop business forecasting. SIMAH 360 provides tools to analyze large batches of data and credit information and to develop clear strategies to achieve customer demands. This helps strengthen the decision-making process; reduce credit risk and increase profitability; increase the company's market share; create new, diversified products and develop its current product line. SIMAH 360 includes accurate information on more than 200 variables, including up-to-date credit performance information, SIMAH's assessment of creditworthiness (i.e. SIMAH score), geographical information and contact information derived from SIMAH's comprehensive database.

• Develop a sound monetary market for business and reduce default rates.
• Enable regulators continue to fine-tune risk-management processes.
• Allow lending institutions to have a holistic view on a person's credit history and calculate possible risks associated.
• Bring about higher growth rates for businesses and individuals, and therefore the economy, through an increase in credit lines to those who wish to borrow.
  
• Help lenders to assess a candidate's total indebtedness and calculate a borrower's capacity to honor their debts.
• Increase the likability of distributing credit in the local market in more efficient method.
• Strengthen prudential supervision capacity through the use of credit information data.
• Diversify credit products on a competitive base.
• Reduce the information asymmetries between lenders and borrowers.
  

• 137,876,356 Million reports issued.
  
• 21,168,192 Million customers.
  
• 87,689,301​ Million CI's.
  

(Saudi Credit Bureau) SIMAH is the leading credit bureau in the MENA region, serving individual consumers, small businesses and large corporations with a full range of credit and financial and risk management products and services.

Established in 2002, and operating since 2004 SIMAH has issued more than 104 million credit reports since 2004 with data quality score of 99.4%. Serving over 17.2 Million customers and having over 63 Million CI's, SIMAH is the largest credit bureau in the MENA region offering industry-leading product and services like SIMAT (Business Solutions), SIMATI (Consumer Solutions) and Value-Added Services (VAS) to cater to business and consumers alike.

SIMAH offers integrated solutions in the domain of analytics and decisioning with its subsidiary QARAR making it the first bureau linked analytics company in the region. MOARIF (The Legal Identifier), SNTR (SIMAH National Trade Repository) and TASNIF (SIMAH Rating) are also managed and operated by SIMAH ensuring vertical and horizonal integration of services.

SIMAH head office is based in Riyadh and can be reached on www.simah.com