The almatar Travel and Tourism Group has announced the signing of a membership agreement with SIMAH, the leading credit information company, aimed at improving credit efficiency and fostering collaboration in financial data sharing. This partnership aligns with SIMAH’s efforts to support the financial sector and provide innovative solutions that enhance transparency and trust.
The agreement was signed at SIMAH’s headquarters in Riyadh by Mr. Abdul Ilah Al-Muhdhar, General Manager of almatar Business Division, and Mr. Alaa Al-Mashhadi, Head of Business Development at SIMAH.
Enhancing Financial Operations in Travel and Tourism
Mr. Abdul Ilah Al-Muhdhar stated, “This agreement represents a crucial step in strengthening financial and administrative processes within the travel and tourism sector. Through this partnership, we can evaluate the creditworthiness of our clients using precise reports that highlight their financial capabilities, supporting decisions related to services like bookings on account or installment plans.”
He added that the agreement will also facilitate analyzing clients’ credit histories, enabling a better understanding of their financial background and reducing risks associated with transactions.
“With SIMAH’s solutions, we can better manage financial risks and make informed decisions, minimizing the likelihood of bad debt losses,” he explained.
SIMAH’s services, including instant alerts on credit record changes and regular reporting, will also enhance operational efficiency and support quick, data-driven decision-making.
SIMAH’s Commitment to Supporting Growth
Mr. Alaa Al-Mashhadi expressed pride in this partnership, emphasizing SIMAH’s role in enhancing almatar ’s position among partners and investors. He stated,
“We will provide almatar with accurate credit reports that support their expansion and project development, alongside designing flexible installment programs and improving the targeting of reliable clients based on their financial behaviors.”
He added, “This agreement will promote competitiveness and transparency by providing precise data that strengthens trust between almatar Travel and Tourism and its clients. Advanced analytical tools will also be employed to understand market trends and customer behaviors, fostering sustainable growth for the company.”