MIK Legal Consulting

MIK Legal Consulting is implementing one of their most ambitous ventures to date. In a move to create clarity and greater communications between financial institutions in the Middle East we are proposing one of the largest credit reference agencies in the GCC.

Currently we are negotiating terms with financial centres across the GCC to establish the regions first super credit reference agency that will compile and collate data for lending criteria of an individual. This will enable us to hold all information regarding a persons financial status and apply criteria to award a credit rating or credit worthiness.

The mature markets have been using such methods for decades and the benefits for institutions are endless. For the first time all financial institutions will be able to forward data into a central database and so called system cheats will be eliminated. In addition once the system is operational we will be able to provide a decision for institutions within minutes. This beats the current approval times of 7-10 days.

We can directly link all institutions to our system so credit procedures will become instant and not require a long paper chain. To achieve maximum exposure within the industry we will be providing this service free for all financial organisations.

We are attempting to create a uniform procedure for lending criteria and an accessible database which can bring great benefit to this region. All information will be protected under the data protection act. Individual files will only be created upon request and all information will be safeguarded.

We will be launching in the early part of 2009, however if you require further information about this service please contact our professionals.