The Business Year

Sheikha Maryam Bint Khalifa Al Thani

QATAR - Finance

Sheikha Maryam Bint Khalifa Al Thani

CEO, Qatar Credit Bureau

Bio

In 2018, Sheikh Maryam Bint Khalifa Al Thani was appointed CEO of Qatar Credit Bureau, under the aegis of Qatar Central Bank. She has been with the bureau since it was established and has held several positions. She has managed a number of projects and holds extensive executive business experience, having led multi-functional teams as director of the economic intelligent department for five years. After graduating from Qatar University with a bachelor of sciences degree in business administration with a minor in English, she joined the Qatar Central Bank in its investment department.

Qatar Credit Bureau is contributing to building a banking system using global technology, including credit scores.

What have been the major developments at Qatar Credit Bureau in the past year?

Talking about major developments, we are constantly assessing the need and opportunities for developing our credit scoring model. In fact, the credit score is included in all of our reports, and we have extended the scoring to non-banking institutions, such as telecommunications and automobile companies. They can easily track the credit bureau’s score within their loan system since it is integrated into the system. Perhaps 35% of our members have integrated their loan systems and live services directly with the scoring system. Using the scoring system, they can make decisions and access application forms directly. There are several different credit score models available. We are currently developing a scoring system for SMEs, aiming to elevate the current system to a higher level.

Qatar Credit Bureau has received a certificate for cybersecurity and business continuity. What strategy are you implementing to provide trusted solutions to your clients to develop their financial sector?

This is something we are extremely proactive about. On the digital side, we do not wait until an attack occurs on our system before continuing our work. Similarly, we developed our procedures policy based on these factors to ensure the continuity of our business and services. In addition, all Qatari institutions are aware of the risks associated with cyberspace, and they all conduct cybersecurity exercises. As part of our communication with all relevant regulators and authorities in Qatar, we are taking the necessary policies and procedures to ensure stability and safety.

Qatar Credit Bureau has been working on providing credit information using sophisticated technologies. What is your approach to this digitalization process?

In today’s world, digital services and products are the backbones of all service providers, and we consider digital services and products to be the future of the Qatar Credit Bureau. One of our primary objectives is to continue providing solutions and services to our members and customers. As part of our efforts to make everything online during the pandemic, we launched an online system to provide customers with reports. On top of that, we are working on new Android and iPhone apps that will enable customers to order online reports at any time.

In 2021, Qatar Credit Bureau signed an MoU with Qatar Financial Center (QFC) to facilitate and accelerate the query process and companies’ access to services. What have been the benefits for both since then?

The integration with QFC was essential to achieving a solution that would benefit both parties. With the first phase completed, QFC can receive credit reports online, and the second phase involves working with QFC to obtain real-time data from the commercial side so that we can match it with our data from the banks. The Credit Bureau and QFC are currently engaged in continuous efforts.

How does Qatar Credit Bureau enhance women’s participation in the national market?

Women empowerment was a central theme in our National Vision QNV-2030 to position the Qatari women among others not only in the region but on a global scale as well. We are dedicated to empowering women in all sectors, not only in the financial sector and are implementing this vision by ensuring women’s participation and leadership in the Credit Bureau and QCB in general. From my position today as the CEO of Credit Bureau, this is an assurance that reflects the leadership support and encouragement given to young women in the financial and banking industries in Qatar.

How aligned is the current situation with Qatar’s expectations for this year, and what is the plan for the upcoming year?

This year, Qatar will host the World Cup 2022, and we are working to enhance the capacity of our system and develop reports to meet the requirements. Credit Bureau strives to benchmark its services among the best in the region, therefore, self-assessment is continuously conducted to ensure compliance with international standards and new requirements.

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