23/03/2017
In a lecture in Asharqia Chamber
Asharqia Chamber organized on
Wednesday, March 22, 2009 a lecture entitled "Maintaining the Credit
History of Individuals" in its headquarters
in Dammam, presented by the CEO of Al Jaber Finance Company, Zaid bin Abdullah Al Yaish, who explained that the financial
system is three complementary entities, (Financial
markets, securities, financial intermediaries), noting that the first entity contributes
to increase production and efficiency in the macroeconomic, the second entity
represents the financial liabilities of the individual or company sold by the
source of the bond for money, while The third prepares it to meet the needs of the
units.
Al Yaish said that it is a financial tool to
create deposits and increase the economic cycle to achieve a better return for
the state economy and the private sector. He stressed the importance of the
credit report in maintaining the financial system by saying that the existence
of a transparent credit system ensures that the financial system will not
collapse. The
individual can not afford financial burdens that exceed his ability to pay. It also
maintains the family income as an important part of community building. He also
classifies clients according to regular and irregular payments and makes sure
that there are clogged clogs even after they expire for a reasonable period of
time.
"The
credit report plays a major role in improving customer behavior, creating a
good credit culture and regular payments, and reducing financial losses in the
financial system resulting from default," said Al Yaish.
Al
Yaish summed up the reasons for the
credit rejection by SIMAH, the Saudi Credit Information Company, at the age of
the applicant, which may be very small or very big, the status of home ownership, the
employment situation and the stability of the job history, as well as the
ability to keep up with the repayment schedule In
addition to the lack of personal guarantee and insufficient data provided, as
well as the lack of proof of the right details and the weak history of payment
in current or previous credit accounts, and the existence of a historical
record of default in payment, indicating that access to the Credit is not the
right of the individual but is considered a service provided by the lenders as
the report issued by " SIMAH" may contribute or not contribute to
acceptance.
He
concluded by explaining how the customer states his objection, saying that the
customer has the right to include the objection directly by contacting the
customer service office at " SIMAH " or asking directly from the
member who deals with him to register the objection to modify the information in the records of the
member and It is then automatically
updated.
