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BAHRAIN CREDIT
Creating Value
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The ability to listen to customers and make decisions quickly makes Bahrain Credit the easiest lender to do business with.
Most players in the consumer credit business in Bahrain would testify that thriving in an increasingly competitive market is no easy task.
Hussain Al Madhi, assistant vice president and head of the branch network, believes their trademark fast and friendly service has kept Bahrain Credit ahead in the game despite intensifying competition and the economic slowdown.
“Lending is our core business and we are much more focussed in this area compared to commercial banks.
 We’re known for fast and efficient processing of loans and transparent lending terms. At Bahrain Credit, customers get what they have been promised,” he says.
The company is now opening its fifth branch in Hamad Town in August this year.
Every branch is designed like a financial supermarket, offering a wide variety of services including personal loans, mortgage finance, vehicle finance, insurance cover and credit cards. Financial advisors at every branch offer consultation to gauge the needs of the customer and advise on suitable products.
While a number of lenders in Bahrain, including banks,
have withdrawn or scaled-back their lending, the company continues to actively solicit new business and has invested in new systems to refine its credit decision making, Hussain points out.
“Around 50 per cent of our client base comprises repeat customers. Some have been doing business with us since
the 1980s. Our speciality lies in the fact that we can design products for all sections of population — ranging from the top business families to a labourer who earns as little as BD200
a month,” he says.
There are never any queues at the headquarters as the company maintains an open door policy wherein customers are free to walk into the office of any of the divisional managers, or even the CEO.
“We believe that once a customer is disappointed, he’ll never come back to the same service provider. There may be other lenders who offer better interest rates, but our rates do not fluctuate throughout the loan period and there are no hidden costs,” he maintains.
Going forward, the company has plans to expand its
eight-hour call centre to make it a 24-hour service, beginning next year. It has also introduced a Golden Key loyalty programme; preferred clients are offered special treatment including waiver of administrative fees, lower interest rates and a higher borrowing limit.
Additionally, the lender commissions periodic mystery shopping exercises, where the quality of customer service
at various branches is evaluated by an independent agency.
Investing in staff is critical, however, to the business and Hussain believes that a clear training strategy and talent management contribute to keeping the employees motivated.
“Our employees are the key to our success as they present the image of the company. We’ve designed training programmes to cater to employees of all grades and make use of the training programmes afforded by the Bahrain Institute
of Banking and Finance.”
Employees are encouraged to make the most of sponsored study programmes, not only for universities in Bahrain,
but abroad as well. Call 17 786-000.
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