Mashreq Bank signs a membership Agreement with Mala’a

Mashreq Bank, a leading financial institution in the MENA region, has officially entered into a membership agreement with Oman Credit and Financial Information Centre (Mala’a), under the foreign banks category.

This agreement grants Mashreq Bank access to a comprehensive database of credit and financial information, which will aid in making well-informed credit decisions, conducting financial capability assessments for clients, and evaluating potential financial risks.

The agreement was signed by Mrs. Manahil Jaffar, Acting General Manager of Mala’a, and Mr. AlSalt Al Kharusi, Country Manager of Mashreq Bank. Mrs. Manahil stated: “We are pleased to welcome Mashreq Bank as a member. This partnership will enable Mashreq Bank to utilize our extensive database of financial and credit information, which is essential for fostering effective decision-making and risk management in the financial sector.” She added, “This partnership marks an important step toward a more stable and stronger financial ecosystem in Oman, promoting sustainable economic development across the region.”

Mr. AlSalt Al Kharusi declared, “Becoming a member of Mala’a is a significant milestone for Mashreq Bank. By leveraging Mala’a’s credit information and intelligence, we aim to enhance our customer offerings and contribute to financial stability in Oman and the region.” Oman Credit and Financial Information Centre (“Mala’a), was established in 2019 under Royal Decree No. 38/2019. The center plays a pivotal role in developing a comprehensive national financial system in Oman. Mala’a’s advanced systems enable members to assess clients’ financial capacity, contributing to improved loan quality and reduced financial risks. The center is integral in lowering default rates, enhancing financial stability, and supporting economic growth in Oman.