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Oman Credit and Financial Information Centre (Mala’a) Announces Soft Launch of its Pilot Operations11/17/2020 8:00:00 PMOman Credit and Financial Information Centre (Mala’a) Announces Soft Launch of its Pilot OperationsOman Credit and Financial Information Center (Mala'a) announced the soft launch of its pilot operations on November 18th 2020, coinciding with the 50th National Day celebrations of the Sultanate. <p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-2">Oman Credit and Financial Information Center (Mala'a) announced the soft launch of its pilot operations on November 18<sup>th</sup> 2020, coinciding with the 50<sup>th</sup> National Day celebrations of the Sultanate. The Official Launch of the Centre's operations will commence on 1<sup>st</sup> January 2021 for the Banking & SME sectors. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-2">The Centre has been established as part of Central Bank of Oman's three-year Strategy (2019-2021), that aspires to constitute a National Databank for Credit and Financial Information in Oman and contribute in transforming the country into a knowledge-based Economy.  It may be noted that Mala'a Centre was established through a Royal Decree 38/2019 issued on May 8<sup>th</sup> 2019. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-2">According to the provisions of the Royal Decree issued in this regard, Mala'a shall act as a state-of-the-art national databank for all Credit & Financial information in Oman. The information sought from the Centre shall empower members from cross-sectors to assess their respective clients' solvency, improve loan quality and thereby reduce overall credit risk and defaults. In addition, it shall also reinforce and promote financial inclusion in the Sultanate.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-2">The Centre has members from the banking, financial, Telecom, Insurance, and SME sectors. The Centre also integrates a number of government and private registers as data providers.  </span></p>0x010100C568DB52D9D0A14D9B2FDCC96666E9F2007948130EC3DB064584E219954237AF3900075E4FF44B3F64489802BE694C5C6FB70300A9BCF8A0432A87429120A5B0A0EDBFF9

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