Muscat: Established by a Royal Decree, with the goal of empowering Access to Credit, Financial Inclusion and SME development, Oman’s first National Databank was inaugurated at a spectacular event under the brand “Mala’a”.
The event was attended by senior officials from the Central Bank of Oman, government entities, and CEO’s of Financial, Telecom & Insurance sectors at the W Muscat, Oman, on December 3, 2019.
Mala’a will serve the growing demand for timely access to credit & financial data for enhanced decision making and credit assessment.
Read More
- Nifty, Sensex end lower as Iran sanctions, high crude and rising bond yields weigh on sentiment
- Oman oil price falls $2.22 to $97.39 per barrel
- Meethaq Islamic Banking Platinum Sponsor of the 16th National General Assembly for Medical Students
- Oman FSA issues new regulation on insurance loss assessment
- Oman’s public revenue jumps 13% to RO 6.6 billion in first half of 2026
The Centre is technology-enabled by a world-class, scalable data-modelling engines and Credit Bureau Platforms.
Initially, Mala’a’s operations will start with credit risk & scoring for consumers and corporates assessment, later move onto expanding its scope to other services such as Mobile lending platforms, Instant Decisioning Module, Data Analysis, and Fintech Innovations.
“Our new identity signals our clear purpose: Unlocking Value from data is ultimately for adding value to the Omani’ Society” said Aadil Al Saadi, Managing Director of Mala’a. “We will enable businesses and their aspirations by equipping them to make superior financial decisions. Such a vision can only be achieved by facilitating access to accurate, timely and reliable information through the Mala’a’s digital secured channels,” he added.
In terms of branding, Al Saadi stated “The Mala’a brand which means ‘creditworthiness’, (financial solvency in Arabic), represents its ambitious vision as a game-changer to the classical credit bureau by re-inventing the business model of credit bureau to cover multiple sectors and integrate public registries and financial data as well” This innovative business model has been appraised by World Bank and Arab Monterey Fund for its futuristic holistic approach.
Mala’a will also effectively service customers in new ways to drive greater financial inclusion. The Centre will empower corporates and consumers to have control over their data through a number of self-service channels such as the mobile app and online platform available in both Arabic and English.
