Announcements & News

CINET the leading and only provider of credit information and credit reporting and scoring services in Kuwait, which operates and supervised by the Central Bank of Kuwait, participated in the 18th Regular Meeting of the Arab Committee on Credit Information (ACCI), which was organized by the Arab Monetary Fund (AMF), and took place in Abu Dhabi between 11-12 September 2024 and brought together key players from the credit information industry, to discuss current challenges, industry best practices, and the future of credit reporting and scoring. 

CINET was represented by Mrs. Alia Al-Humaidhi, Chairperson of the Board, and Mrs. Mai Al-Owaish, CEO, to participate in this valuable forum for exchanging experiences, discussing challenges, and exploring innovative ways to integrate credit information with advanced financial technologies to provide reliable and accurate credit solutions, along with key industry leaders and experts in the MENA and the European Union. 

The meeting highlighted technologies for providing reliable credit solutions through discussions on the latest trends in customer registration in the Know Your Customer (KYC) system, supplementary data for credit scoring, and protecting the rights of credit users. It also explored how technology can transform the sector by using credit data to predict insurance risks. Discussions also included a presentation on the experience of credit companies from the European Union in "Buy Now, Pay Later" (BNPL). CINET’s leadership communicated its ongoing commitment to shaping the future of the credit industry and aligning it with global best practices to deliver robust credit solutions that meet the needs of individuals and businesses in the Kuwaiti market.  

The Arab Credit Information Committee, whose secretariat is managed by the Arab Monetary Fund, is a specialized committee emanating from the Council of Arab Central Banks and Monetary Authorities’ Governors. It includes directors and officials from credit information centers at Arab central banks, as well as executives of licensed national credit information companies. The committee focuses on developing the credit information industry in the Arab region, exchanging knowledge and expertise to keep pace with modern trends, and benefiting from innovations, given their significant impact on financial inclusion and stability.