QNA
Doha
The Qatar Credit Bureau (CB) has announced the launch of its five-year strategy aimed at enhancing and advancing its services to keep abreast with global changes. The strategy seeks to create a healthy and sustainable credit environment that fosters trust in the State of Qatar’s credit sector. The strategy aims to expand the Qatar Credit Bureau’s credit database by including new sectors.
Currently, the database encompasses 32 sectors, such as banks, finance companies, telecom, and automotive companies. It will now be expanded to include insurance companies, increasing the total number of regulated sectors.
The bureau stated that its five-year strategy will leverage big data and artificial intelligence technologies to develop innovative products. These products will help credit providers make more accurate credit decisions, fostering greater transparency and mitigating credit risks.
The bureau also reaffirmed its commitment to raising public awareness about the importance of maintaining a good credit record.
Through its awareness initiatives, the bureau aims to guide individuals toward improved financial management and achieve financial stability that benefits all. page 8