Corporate Credit Reference Bureau, another Strategic Product the Company Offers
The Central Bank of Bahrain (CBB) has announced that go live of the Corporate Credit Reference Bureau (CRB) on the 1st of January 2014. The Corporate CRB came as an extension to the current CRB the BENEFIT Company offers to Bahrain’s Financial Market to include the corporate details and their credit history; whereas all banks selling financial services to their corporate clients are now able to view their corporate customers’ financial history and behaviors when assessing their risk.
The support of CBB in the successful go live of this project is a major contribution; this is in addition to the full cooperation from the member banks and financial institutions. The Corporate CRB provides a comprehensive database of all corporate financial history and data along with the individual history and data. Such rich information shall further cement the infrastructure for the Financial Market and businesses through enabling banks and financial institutions to take subjective decisions based on actual facts and rational analysis.
Mr. Abdulwahid Janahi, the CEO of BENEFIT, noted that the Company is highly honored to have CBB trust in the Company when assigning the Corporate CRB to it. Such service enables the Company to provide value adding services to Bahrain and its Financial Market that shall contribute to expediting the finance service process and enhancing the risk management of the banks and financial institutions.
Mr. Janahi also added that the Corporate CRB provides different feature and accurate reports with up-to date information to its members. Furthermore, the system was designed and built adopting the best technical specifications and standards of the market using the highest international security practices and standards. Similarly, the system has a strong and highly reliable platform that assures high performance and availability rates through providing two systems that work in harmony acting as backup for each other. Most importantly, the Company is very proud to see such successful project be implemented with the efforts and devotion of promising Bahrain’s expertise.