CRIF Jordan has recently signed Credit Information Service Agreements with Bank Al Etihad, Capital Bank, Jordan Kuwait Bank, Housing Bank, Standard Chartered Bank and AJIB Bank, making CRIF the first official provider of credit reports to those financial institutions. CRIF is the first credit bureau licensed by the Central Bank of Jordan, and is developing a world-class credit bureau aimed at supporting the development of the Jordanian economy and facilitating access to credit.
All six Jordanian banks are ready to obtain credit information on their customers through the CRIF Jordan Credit Reporting System. An accurate and updated credit history including information gathered from all Jordan credit providers through an advanced technological platform, which integrates all data into one comprehensive credit report, will optimize and speed up the decision-making process with a positive impact on access to credit and to financial services, with more favorable loan terms for individuals and companies in Jordan.
In addition, the credit bureau will allow credit providers to confidently assess credit risks and make more accurate lending decisions.
CRIF Jordan, which is expected to begin providing its services in the next two months, will bridge the gap in demand for credit in the kingdom, and will help expand credit to wider segments of the economy, especially to small and medium-sized companies, recognized as the lifeblood of the local economy.
Source: CRIF Press Release