Credit Bureau (Simah)
Synonyms: SIMAH، Saudi Credit Bureau، Credit Reference Agency، Credit Information Company
Last updated: 2026-09-25
Short Definition
The Saudi Credit Bureau (SIMAH) is the Kingdom's first licensed credit information company, collecting credit data on individuals and businesses from members such as banks, finance and telecom companies and issuing credit reports and scores to lenders under Saudi Central Bank supervision.
Overview
Legal Basis
Credit bureaus operate under the Credit Information Law issued by Royal Decree No. M/37 dated 5/7/1429H and its Implementing Regulations issued by Governor's Decision No. AQ/13709 dated 22/9/1432H: Article 7 (five-year licence term), Article 28 (who may be issued a record), Article 39 (no record created or shared without written consent) and Article 40 (member obligations, including weekly updates). SAMA Circular No. 41059236 dated 11/10/1441H concerns sharing credit information with Bayan Credit Bureau.
Practical Example
Before Reem applies for SAR 750,000 of home finance, she checks her record through SIMAH's channels and finds an old credit card she had closed still showing a SAR 3,200 balance. She contacts the issuing bank, obtains a clearance letter and files an objection with the credit bureau. The bureau notifies the bank of the objection and issues its decision within the 30-business-day limit, and the record is updated. When Reem later applies, she signs the consent to inquiry, the bank reviews her updated record and score, and decides under deduction limits, LTV caps and its policy. If the bank rejected her because of information in the record, she could ask to be told in writing the reasons and the name of the bureau that supplied the record.
Common Mistakes
- ✗Believing SIMAH rejects finance applications, when the decision is the lender's and the bureau only supplies information.
- ✗Thinking data updates in real time, when members must update at least weekly, so a recent payment may show with a delay.
- ✗Assuming SIMAH owns and corrects data on its own, when corrections go through an objection and verification with the member that reported it.
- ✗Sharing login details or reports with unofficial parties claiming to "fix your record" for a fee.
- ✗Overlooking that non-bank entities such as telecom companies can be members that supply data to the bureau.
International Differences
The US has three major private credit bureaus (Experian, Equifax and TransUnion), as does the UK. In the UAE the Al Etihad Credit Bureau is a federal entity; in Turkey the Credit Registration Bureau (KKB) was founded by banks; and in Egypt I-Score operates. Saudi Arabia resembles the Turkish model in that banks own the main bureau, with a legal framework requiring the consumer's written consent and setting objection deadlines.
