Riyadh – Mubasher: The Saudi Credit Bureau (Simah) has been licensed to render credit rating services in the Kingdom of Saudi Arabia, according to a local newspaper.

As the first credit rating agency in Saudi Arabia, Simah will start its new business line within 28 days, said informed sources quoted by newspaper al-Eqtisadiah.

Simah will prepare ratings on sukuk and bonds and all companies in the kingdom, as well as issuing reports on the Saudi economic position, government funds and sovereign debts.

The national credit bureau is reportedly selected for the license grant by the capital market authority which announced earlier in September that it received license applications from six companies.

Before this expansion, Simah was also the first and sole licensed national credit bureau in the kingdom.