Reference is made to the Credit Information System issued by Royal Decree No. M/37 dated 1429 AH, and following up on the Central Bank's circular No. M A S/55 dated 29/1/1428 AH regarding the full compliance with the operating rules and the membership agreement signed with the Saudi Credit Information Company (SIMAH). We inform you that the Central Bank has recently observed that some banks are using unprofessional methods to collect overdue debts, misleading delinquent customers by claiming that their names will be removed from "SIMAH's list" upon settling their debts.

The use of such methods with delinquent bank customers reinforces a false understanding of the role of credit information companies and negatively impacts the efforts made to educate beneficiaries about the reality of credit reports and their contents. Therefore, the Central Bank emphasizes the necessity for all banks operating in the Kingdom, particularly the employees of the collection department and contracted collection companies, as well as other relevant departments, to refrain from using unprofessional methods to collect overdue debts. This includes misleading delinquent customers into believing that their names will be removed from "SIMAH's list" upon debt settlement, which contradicts the actual mechanisms of credit reporting in effect.