Interview: Mai Al Owaish, CEO, Kuwait Credit Information Network Company, on enhancing credit information exchange
To what extent is the role of credit information evolving, particularly in improving access to financing and supporting decision-making?
MAI AL OWAISH: Reliable credit data allow lenders to assess risk accurately and make smarter decisions, whether it is for a small personal loan or a large corporate facility. Under current regulations, every lender must review a credit report before making a lending decision. This ensures they can see a borrower’s financial behaviour across the entire credit landscape.
For lenders, access to credit data is especially valuable when evaluating new clients with no prior relationship. For borrowers – particularly those with strong repayment histories – credit information becomes an asset, helping them access better financial products even as they move between lenders or sectors.
Beyond improving access to credit, the credit reporting ecosystem also reinforces borrower discipline. When individuals understand that late payments affect their credit standing – not just with banks but across sectors such as retail, car leasing, telecoms, and real estate – they tend to act more responsibly. The inclusion of these additional sectors in credit reporting will further promote healthy financial behaviour.
One particularly noteworthy development is the growth of buy now, pay later (BNPL) services. BNPL is increasingly used by younger and often non-salaried individuals. By tracking this data through a dedicated portfolio, we can model credit behaviour more effectively and support users in building strong, reliable credit histories that can ultimately help them access larger, more traditional financial products over time.
How can cross-border credit information exchange facilitate GCC lending and investment flows?
AL OWAISH: Data exchange initiatives have been launched with several GCC countries, including Bahrain, Oman and Saudi Arabia. These partnerships enable financial institutions in Kuwait and their regional counterparts to assess the creditworthiness of individuals and businesses across international borders.
This integration is part of a broader initiative endorsed by the GCC to promote financial transparency, regional cooperation and market integration. Integration efforts with Qatar and the UAE are currently underway, with plans to expand data exchange to countries beyond the GCC – such as Egypt and India, due to their significant expatriate populations and deep economic linkages. These efforts support cross-border lending and investment, and also align with Kuwait’s vision of a more interconnected and transparent financial sector.
In what ways is digital transformation reshaping credit risk assessment, and what technologies drive more accurate and efficient credit evaluations?
AL OWAISH: Digital transformation is revolutionising credit risk assessment. A key innovation is the introduction of digital consent mechanisms, allowing customers to authorise data sharing online securely. This ensures compliance with privacy regulations while enabling lenders to evaluate creditworthiness efficiently. We are witnessing the adoption of digital credit solutions across all lenders – including digital banks, traditional banks and retailers – as they leverage online channels to engage customers and streamline processes such as loan origination and credit assessment.
At the core of this transformation is artificial intelligence (AI). Credit scoring models utilise advanced machine learning to predict the probability of default based on borrower behaviour and credit history. Additionally, employing sophisticated analytics enables lenders to have actionable insights into portfolio performance, allowing them to grow their market share through informed decisions. Looking ahead, the use of generative and agentic AI has the potential to further enhance how lenders interact with credit data – delivering accurate and tailored insights, proactive risk management and optimised collection strategies.
Read More from OBG
