Gulf International Bank signs membership agreement with Bayan Credit Bureau in Riyadh

Gulf International Bank (GIB) is pleased to announce the signing of a membership agreement with Bayan Credit Bureau (BCB) to share credit information services to assess customers' credit solvency, compile local and international credit reports, and provide other credit advisory services. The agreement was signed by GIB Chief Executive Officer Mr. Abdulaziz A. Al-Helaissi and BCB Chief Executive Officer Mr. Mohammad Al-Yousef at GIB office in Riyadh.

GIB CEO, Abdulaziz Al-Helaissi said: "We are pleased to be entering this partnership and plan to collaborate and share information in order to advance this sector and serve more institutions in the Kingdom of Saudi Arabia."

BCB CEO, Mohammad Al-Yousef also expressed his delight with this agreement, saying it is in line with BCB's plan and objectives in providing services and products that help create an attractive investment environment. The collaboration will ensure good quality, confidentiality and appropriate exchange mechanism between members.

BCB is a Saudi joint-stock company licensed by the Saudi Arabian Monetary Authority with a capital of SR100 million. The integrated corporate credit service provider is owned by several public and private companies; namely, Thiqah Business Services, Takamol Holding, Alinma Bank, Al Bilad Bank, and GIB.

BCB collects, analyses, and provides credit, trade, and financial information to corporate clients in Saudi Arabia across various sectors such as wholesale, and retail. It also offers credit advisory services and advanced smart solutions that enable its clients to make better quality credit decisions.

GIB is owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the primary shareholder.

GIB aims to be the preferred financial services partner, delivering bespoke banking solutions to a wide customer base in the region and beyond. This includes corporate banking, asset management, debt and equity capital market services, financial

advisory services, mergers and acquisitions, and the world’s first Shariah compliant digital retail banking service, meem by GIB.

In addition to its main subsidiaries, London-based GIB (UK) Ltd., and Riyadh-based GIB Capital LLC, GIB has branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with a representative office in Dubai.