The importance of credit information emerged as a cornerstone for financial stability, enabling a healthier and more sustainable economic ecosystem. As Saudi Arabia’s financial sector rapidly expanded throughout the late twentieth century, the market needed a reliable mechanism to observe credit behavior, support responsible lending, and empower lenders and borrowers alike.
The idea of establishing a national credit information entity first surfaced in 1998, supported by the International Finance Corporation (IFC), which conducted extensive market studies and formed a dedicated working group to explore the best model for the Kingdom.
In 2002, these efforts culminated in the creation of the Saudi Credit Information Company (SIMAH) under the supervision of the Saudi Central Bank (SAMA). SIMAH began its journey with a capital of $curr 100,000,000 and a clear mission: to build the first unified national platform for gathering, analyzing, and delivering credit information to lenders, businesses, and the broader financial sector.
From day one, SIMAH positioned itself as a trusted engine for financial transparency, helping reduce credit risk, strengthen financial operations, and elevate decision-making for both consumers and institutions. Over the years, SIMAH’s commitment to high-quality credit data fueled its growth beyond the local market, extending its services across the region, including the Middle East and parts of Africa.
A significant milestone came in 2008, when SIMAH received its official operating license following the approval of SAMA’s Governor marking the beginning of a new era of regulated, transparent, and integrated credit information services in the Kingdom.
SIMAH continued to evolve, increasing its capital in 2012 and later transforming, through a Ministry of Commerce resolution in 2014, into a closed joint-stock company—further strengthening its governance, regulatory foundation, and operational flexibility.
By 2019, SIMAH’s capital grew to $curr 50,000,000 , accompanied by an ambitious strategy for innovation, digital transformation, and product expansion. This momentum continued into 2022, when capital was increased once more, from $curr 200,000,000 to $curr 400,000,000 , representing the largest capital expansion in SIMAH’s history and reaffirming its commitment to shaping a stronger, more data-driven credit ecosystem for the Kingdom.
Today, SIMAH stands as a vital pillar of the Saudi financial landscape—connecting lenders, businesses, consumers, and regulators through trusted data, world-class solutions, and a mission to enable financial confidence for all.