Capital Bank and CRIF-Jordan, the first credit information bureau to be officially licensed by the Central Bank of Jordan, signed an agreement by which the company will provide its credit information services to the bank’s corporate and individual clients in order to facilitate their access to financial facilities, allowing them to obtain more favorable loan conditions.
The agreement underscores the importance of having a comprehensive and well-defined database of information that provides lenders with an advanced technology platform that presents its data through one comprehensive report.
Signing on behalf of Capital Bank was General Manager Haytham Kamhiyah, who said, “This agreement augments the strategy of the bank in bolstering the SME sector, which is considered pivotal in boosting economic growth, giving them access to financial sources, something many companies find difficult due to their lack of a credit record.” Kamhiyah went on to add, “Capital Bank always endeavors to introduce the latest international techniques and applications, which increase the professionalism of our services while simultaneously streamlining credit procedures. Our partnership with CRIF will help reduce credit risks by providing the necessary information about borrowers, making decisions regarding lending easier and less risky.”
Ahmed Amoudi, the general manager of CRIF-Jordan, said on the occasion of the signing, “We highly value this partnership with Capital Bank, one of the first local banks and financial institutions to apply the credit information service, and we appreciate the efforts that were exerted by the bank’s team to make this partnership succeed.” He added, “This service will enable credit providers the ability to evaluate credit risks with confidence, allowing them to make decisions with more speed and efficiency. This will contribute to the running of the credit information company, which is expected to begin delivering its services in the next couple of months, thus, bridging the gap in applying for credit in the Kingdom.”