:: The Need for CRC ::

In the cases of unpaid debts, the problem elevates. The efficiency of the company's collection capabilities is related to several important features. These include : The personnel involved in the collection process, due amounts per month, percentage of collection, and finally the automated systems applied.

In a market survey done in Kuwait to determine the amounts of unpaid debts in all sectors, and to measure the effectiveness of the debt company's collection, the following became clear :

• That whether old or new,  debt amounts are large and increase daily.
• Presence of old overdue debts primarily resulting from the Kuwait invasion, with many debtors residing outside of Kuwait.
• Preference of some companies to receive collection services from a third party due to the delicate relationship between creditors and debtors.
• The absence of computerized systems in a large percentage of collection companies.
• The collection services and procedures rendered by existing companies are not known to a large segment of the market. This creates hesitation by commercial companies to cooperate with collection companies.

These factors have generated the need for establishing CRC in order to accomplish the following:

• Provide credit analysis and evaluation of financial positions of companies and individuals.
• Recover debts locally and internationally.
• Provide risk management and debt remedial services.
• Building the biggest and newest automated system in the GCC region.
• Develop services as per the market requirements to ensure a profitable credit transmission.

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