The Qatar Credit Bureau (CB) announced that Al Tadamon Motors & Trading has joined the Bureau’s membership, becoming one of the member institutions and companies that benefit from the services and products provided by CB.
The agreement was signed by CEO of Qatar Credit Bureau Sheikha Maryam bint Khalifa Al-Thani, and Ali Abdulrahman Al Muftah on behalf of Al Tadamon Motors & Trading.
Sheikha Maryam bint Khalifa Al-Thani stated that under the agreement, the CB and Al Tadamon Motors & Trading will exchange credit information of the company’s customers in accordance with the CB’s regulations and laws.
The joining of Al Tadamon Motors & Trading falls within CB’s strategy to include sectors that provide credit services in the country in its membership with the aim of expanding its database and further develop its services to members and customers, she explained.
The first phase included the joining of banking and financial companies, while the second phase included communications and automobile companies. The Bureau aims to expand its membership to include various sectors in Qatar.
Al Tadamon Motors & Trading affirmed its commitment to ensuring the protection of data and information of all its customers, and ensuring that customers’ credit information is reviewed with their consent and in accordance with the CB.
This cooperation aims to develop electronic work in exchanging information between Al Tadamon Motors & Trading and the CB in line with Qatar National Vision 2030, as the electronic linking process between the two sides helps speed up the completion of transactions to serve all members of society.
The CB aims to contribute to building a credit system with a high degree of efficiency and stability, by providing accurate and comprehensive credit information based on international and advanced standards and technology, in addition to improving the ways that customers with a good credit rating can benefit from the credit facilities by credit providers, as well as reducing the incidence of debt write-offs or defaults, thus reducing credit risks.
Under this agreement, the CB will allow Al Tadamon Motors & Trading to view customers’ credit reports with their approval, which will contribute to credit growth, reduce risks and help in the growth and development of Qatar’s economy.
Through the reports, the company will also be able to analyze the data and make proper decisions in the future that meet the needs of the consumer and reflect positively on the economy of Qatar.
Source: Qatar News Agency