Amman, Nov. 3 (Petra) – Crif Jordan, the country’s licensed credit bureau, has emerged as a key driver of data-based lending and financial transparency, enabling banks to refine risk assessment and expand access to credit, particularly for small and medium-sized enterprises.

The company’s database now covers nearly three million clients and underpins a 20% reduction in default rates over the past five years, reflecting its growing role in advancing sustainable credit growth across Jordan’s financial sector.

Chief Executive Officer Ahmad Al-Amoudi said Crif Jordan has evolved from a credit information provider into a core component of the national financial infrastructure, offering advanced analytics that support more accurate lending decisions, lower funding costs, and broader financial inclusion.

Licensed and supervised by the Central Bank of Jordan since 2016, the company operates under the Credit Information Law No. 15 of 2010 and applies global best practices in data governance and cybersecurity, including ISO 27001 certification.

Its platform consolidates data from 720 institutions including all commercial and Islamic banks, microfinance companies, telecom operators, and utilities and issues around 200,000 credit reports monthly to over 120 financial institutions.

Crif’s proprietary scoring model, powered by artificial intelligence, assigns borrowers credit scores between 300 and 850 points, now a standard benchmark for lenders. Clients with scores above 750 typically secure lending rates up to 1.5 percentage points below market averages, while the national average stands near 650.

The broader use of credit data has supported stronger financial performance across the banking sector, with improved portfolio quality and reduced non-performing loan ratios. According to Al-Amoudi, the increased reliance on credit analytics has also helped expand formal lending channels, raising financial inclusion in Jordan from 36% in 2014 to over 60% by the end of 2023.

Crif Jordan aligns its operations with the Economic Modernization Vision 2033, rolling out digital solutions such as the "Know Your Report" service, which allows citizens to access their credit reports free of charge once a year. The company also incorporates non-financial indicators like payment histories for telecom, electricity, and water bills to help extend credit access to clients with limited banking histories.

Since its establishment, Crif Jordan has issued over 10.5 million credit reports that have informed 3.6 million loans, with its database currently containing data on more than 12 million loans. Al-Amoudi said the company continues to invest in digital infrastructure, AI-driven risk tools, and cybersecurity systems to maintain service reliability and market confidence.

"A well-informed credit ecosystem leads to more efficient capital allocation and a healthier financial system," he said. "Every data-backed lending decision contributes to sustainable economic growth and greater inclusion across the Jordanian economy." //Petra// AA