Article 5 of the Saudi Credit Information Law

This article deals with the member's obligations and right. A member, under Article 1, is a government or private body bound by a contract to exchange credit information with at least one credit information company, such as banks and finance providers.

First: the member's obligation

• To exchange all the credit information available to it with the company it is bound to by contract, not only some of it.
• To bear responsibility for the accuracy of this information and for updating it. If the member provides incorrect information or does not update it, the responsibility is its own.

Second: the member's right

Members are entitled to obtain from companies a copy of the consumer's credit record, but on an essential condition: taking his written consent beforehand. Being a member is not enough for a body to see anyone's record.

This article works together with Article 4, which requires companies to prepare credit records and exchange them with members when requested, and with Article 6, which requires members, companies and their staff to keep information confidential and not use it for any other purpose except what the Law, its Regulations or the laws governing confidentiality of information permit.

If a consumer thinks a body has seen his record without his consent, or that the information sent about him is incorrect, he may consult a lawyer specializing in banking and finance to learn the options available to him under the Law.