Riyadh, KSA, 12 December 2023: The partnership between Bahri and Bayan Credit Bureau is a significant development that reflects the strategic move by Bahri to enhance its financial decision-making capabilities through access to credit advisory services. Here are key points highlighted in the provided information:
1. Membership Agreement:
- Bahri, the national shipping company of Saudi Arabia, has entered into a membership agreement with Bayan Credit Bureau.
- Bayan Credit Bureau is recognized as a leading credit bureau that provides credit reports for over 180 countries.
2. Credit Advisory Services:
- The partnership allows Bahri to access a wide range of credit advisory services provided by Bayan.
- These services are designed to assist Bahri in making informed and responsible business decisions by assessing the creditworthiness of potential clients.
3. Signing Ceremony:
- The agreement was signed in the presence of Eng. Ahmed Alsubaey, CEO of Bahri, and Eng. Mohammad Bamogaddam, CEO of Bayan.
- The signing ceremony took place at Bahri headquarters in Riyadh, Saudi Arabia.
- Mr. Abdulaziz Aloud, Acting CFO of Bahri, and Mr. Talal Fahad Alshehri, Chief Business Officer at Bayan, signed the agreement.
4. Credit Information Exchange:
- Bahri commits to exchanging its credit information in accordance with Bayan Credit Bureau's plan and objectives.
- The aim is to provide services and products that contribute to creating an attractive investment environment.
- The process will adhere to regulations and restrictions stipulated by the credit information law.
5. Bayan Credit Bureau's Services:
- Bayan operates under a license from the Saudi Central Bank (SAMA) and specializes in credit reporting, due diligence reports, data analysis, risk assessment solutions, and credit consultations.
- The bureau's database covers commercial entities with credit relations in the banking system, maintaining over a million commercial records in the Kingdom and information on over 200 million companies worldwide.
6. Facilitating Informed Decision-Making:
- Bayan's services aim to facilitate informed decision-making for entities and companies by offering comprehensive credit information services.
This collaboration between Bahri and Bayan Credit Bureau underscores the importance of leveraging credit information to make well-informed business decisions, contributing to the overall financial health and stability of Bahri as a key player in transportation and logistics.