Referring to the complaints recently submitted to SAMA and what has been observed regarding the delay of some members of the Saudi Credit Bureau (SIMAH) in updating the records of customers who have defaulted on their debts, or the inclusion of disputed information pending before judicial authorities and committees, which has caused disruptions to customers' interests. And with reference to Credit information law and its implementing regulations, and also the Banking Consumer Protection Principles issued by Circular No. 341000095960 dated 03/08/1434 H. SAMA wishes to emphasize the responsibility of the members to take the following actions:

1. Update customer credit information periodically with a minimum of once a week.
2.   Failure to provide credit information companies with negative information about the client that includes a dispute or complaint without notifying them that this negative information is the subject of a dispute or complaint.

We hope that you review and act accordingly, informing SAMA of the measures taken within two weeks from the date hereof. Please note that SAMA will investigate any violations of the instructions found. According to Article (10) of the Implementing Regulations. The "Committee for Reviewing Violations and Resolving Credit Information Disputes" will take appropriate actions regarding the customers’ objections that have been previously rejected, as well as the violations submitted to it by SAMA in accordance with the provisions in Article (12) and (13) from the Credit Information Law.