The Director-General of the Saudi Credit Information «Simaa» Nabil Abdullah Al-Mubarak, stressed that the company seeks to strengthen the credit culture and raise awareness of the credit to everyone, whether individuals or companies. He said during a workshop on the role of credit report in the business sector, organized by the company in cooperation with the Chamber of Commerce and Industry in Riyadh, and represented by the installment committee lastly, and about some credit definitions: We have a big problem that lies in not understanding the definitions of credit generally, and to take as an example, credit cards. This is visible on a daily basis in the feature, by virtue of the credit information provided to us by our customers, and consequently, there is apparent buying obsession due to the consumption pattern experienced by the community.He added: We are not asking for a reduction of the issuance of credit cards, infact, we think it is good for every citizen to have a credit card. However, we must regulate this process properly. In the past, banks and card issuers did not have a clear mechanisms to regulate this issue, and with the growth of this phenomenon, especially during the last three years, is imperative for restructuring and revision.
|