Credit history data with banks shared amongst GCC countries

kphbahrain Member

Member since 04 July 2013

kphbahrainMember03 June 2014 07:23:41

Hello I would like to know if the credit history data of a person with financial instituitions/ banks of credit cards or loans taken in one GCC country is shared with other GCC countries to or not For e.g I was working in Bahrain earlier and moved to Muscat a few months back, I had a couple of credit cards in BH, the accounts of which are still valid and I have not yet settled or thought of closing those and have been doing irregular payments, wondering if its considered to be a "default" by now.聽 If I am applying for a loan or credit card here in Muscat, will it affect my application in any way or the credit history I had in Bahrain would be different from what I am going to have here starting from a scratch in Oman, this is the first time I am applying for a finance here.

Appreciate somene clears this doubt. Thank you.

GuestPoster411 Guest

GuestPoster411Guest03 June 2014 07:46:42

Hi kphbahrain,

It is always advisable and safe to play by the rules, more so when one is in a foreign country.

Technically, what you have done can be considered as a financial fraud and your banks will list you as a defaulter since you still have unpaid outstandings against your credit cards.

But usually banks may not come after such defaulters if the amounts involved are negligible by their standards.

If the amounts are large, they can track you down pretty easily. If its some small amount the banks will write them off as bad debts.

Good luck.

kphbahrain Member

Member since 04 July 2013

kphbahrainMember03 June 2014 07:56:42

Well Thanks, Sumitran, I am aware of that fact, but I wanted to know if my credit history in Bahrain would be linked to that in Oman ? How does the banking systems work here. Thankn