--- title: 'Financial Statement Spreading Software for the GCC | Wethaq' description: 'Automated financial statement spreading and credit analysis for Saudi Arabia and the GCC. Arabic-native extraction, 35+ ratios, transparent credit scoring.' url: 'https://wethaq.ai/en' last_modified: '2026-07-07T02:59:54+00:00' --- *Financial statement spreading & credit analysis for the GCC* # From PDF to decision-ready credit analysis. Upload a company's financial statements — Arabic, English, or bilingual. Wethaq extracts every figure, spreads it into an IFRS-aligned model, computes 35+ ratios, and returns a transparent credit score your committee can defend. [Request Early Access](#early-access) [See how it works](#how-it-works) Arabic, English & bilingual statements · Human review on every figure · Early access Illustration of the analysis workflow — sample data SMEs in Saudi Arabia 1.3M+ estimated SME financing gap $80B standardized IFRS-aligned line items 290 ratios across 5 families 35+ Market figures: Saudi Vision 2030 Financial Sector Development Program. # What is financial statement spreading? Financial statement spreading is the process of transferring figures from a company's financial statements into a standardized format so credit analysts can compute ratios, compare companies, and assess credit risk. Wethaq automates spreading from Arabic, English, and bilingual PDFs into an IFRS-aligned model in minutes. *The problem* # Your best analysts are doing data entry. Every credit file starts the same way: someone opens a PDF and starts keying numbers into a spreadsheet. Hours per obligor. Days when the statements are scanned, bilingual, or follow a format the template never anticipated. Wethaq does the keying, the mapping, and the math. Your team does the credit. ## Hours of re-keying per obligor Analysts hired for judgment spend their days transferring numbers from PDFs into spreadsheets. ## Keying errors surface in committee Manual transcription mistakes flow silently into ratios, memos, and decisions. ## Three versions of "the" template Every analyst computes ratios their own way, so obligors stop being comparable across one department. ## Generic tools can't read Arabic Arabic and bilingual statements defeat OCR built for English-only documents. *How it works* # Four steps from statement to decision. *01* ## Upload Create the company and drop in its financial statements as a PDF — Arabic, English, or bilingual. No templates to fill, no reformatting before you start. *02* ## Extract & review Wethaq reads every figure and maps it to a standardized line item. Your analyst reviews flagged values side by side, and automatic balance checks confirm assets equal liabilities plus equity. *03* ## Analyze The engine computes 35+ ratios across liquidity, leverage, coverage, profitability, and activity — plus growth and common-size statements. Every period, every company, calculated the same way. *04* ## Decide Wethaq produces a transparent, rules-based credit score and a decision-ready report built for the credit committee. After the decision, monitoring watches for deterioration. *Product* # Everything between the PDF and the decision. ** ## Arabic is the native language, not an afterthought Wethaq's Arabic financial statement extraction handles right-to-left layouts, Arabic-Indic numerals (٠١٢٣٤٥٦٧٨٩), and Hijri dates, and maps Arabic line-item labels directly to the standardized model. Bilingual statements are cross-checked across both languages, so two columns of the same number make extraction more reliable, not twice the work. ## One spread for every statement Every company lands in the same IFRS-aligned model of roughly 290 line items — including the lines GCC credit work actually needs: Sukuk, Murabaha and lease financing, retention receivables and payables, LC/LG margins, and costs in excess of billings. ## 35+ ratios, computed the same way every time Liquidity, leverage, coverage, profitability, and activity — plus growth and common-size analysis across periods. No more arguing about whose DSCR formula is right; the engine applies one definition across the whole portfolio. ## A score you can defend Wethaq's scoring is rules-based and fully transparent: every threshold, weight, and driver is visible. When the committee, an auditor, or a regulator asks "why this rating," the answer is on the screen — not inside a black box. ## Reports ready for the credit committee Each analysis produces a decision-ready credit report: the rating, the drivers behind it, ratio trends, and the red flags worth discussing. It reads like the analytical core of a credit memo, because that's what it's built to be. ## Know when an obligor deteriorates Approval isn't the end of the credit file. Wethaq monitors spread financials over time and raises alerts when liquidity tightens, leverage climbs, or coverage slips — so reviews happen when the numbers move. *Why Wethaq* # Built in Saudi Arabia, for how the Gulf does credit. ** ## Regional by design, not by translation A credit risk platform built in Saudi Arabia for Saudi and GCC realities: Zakat treated as Zakat, IFRS as adopted in the Kingdom, and the contracting-sector lines — retentions, advances, billings — that dominate Gulf portfolios. ## Arabic-native extraction The moat Global spreading tools were built for English statements and adapted later, if at all. Wethaq reads Arabic and bilingual statements as a first-class input — layout, numerals, dates, and terminology. ## Enterprise-grade analysis, mid-market reality The established suites are priced and deployed for the largest global banks. Wethaq delivers the same class of automated credit analysis sized for mid-market banks, finance companies, and audit firms — no 12-month deployments. ## A layer alongside the bureau, not against it SIMAH answers an essential question: how has this company borrowed and repaid? Wethaq answers the complementary one: what do its financial statements say about its health today? A complete credit decision needs both. *Who it's for* # Who Wethaq is for. ** ## Lenders — banks & finance companies Run SME credit assessment at the pace your pipeline demands. Wethaq turns each obligor's statements into a consistent spread, a full ratio analysis, and a transparent score — so underwriting moves in minutes instead of hours, and every file in the portfolio is comparable to every other. ## Auditors & accountants Standardize the analytical work across every engagement. Wethaq spreads a client's statements into one consistent model, computes ratios and trends instantly, and flags the movements worth investigating — analytical procedures that start from clean, structured data. ## Advisors & investors Evaluate private companies without a data room full of spreadsheets. Upload the target's financials and get standardized statements, ratio and trend analysis, and a clear-eyed risk view you can put in front of clients or an investment committee — in their language and yours. *Pricing* # Plans built around analysis credits Every tier comes down to two numbers: how many financial periods you can analyze, and how many AI deep-dives you can run. ## Starter For a single analyst spreading a steady flow of statements. 499 SAR / month 25 period analyses 3 deep analyses - Bilingual reports & exports - Email support [Get started](?plan=starter#early-access) *Most popular* ## Growth For a busy credit team across many borrowers. 1,499 SAR / month 100 period analyses 15 deep analyses - Priority extraction queue - Monitoring alerts - Priority support [Get started](?plan=growth#early-access) ## Enterprise Unlimited analysis and a tailored agreement for banks and large lenders. Contact us Unlimited period analyses Unlimited deep analyses - Dedicated onboarding - SLA & custom integrations [Contact sales](mailto:hello@wethaq.sa) *FAQ* # Frequently asked questions ** ## What is financial statement spreading? Financial statement spreading is the process of transferring figures from a company's financial statements into a standardized template so they can be analyzed and compared. Credit analysts spread statements before computing ratios, trends, and risk scores. Done manually it takes hours per company; financial statement spreading software like Wethaq automates the transfer and the analysis that follows. ## Does Wethaq read Arabic financial statements? Yes. Wethaq is built for Arabic financial statement extraction from the ground up. It reads Arabic, English, and bilingual statements, handles right-to-left layouts and Arabic-Indic numerals, recognizes Hijri and Gregorian dates, and maps Arabic line-item labels to a standardized IFRS-aligned model. Wethaq cross-checks bilingual statements across both languages to raise extraction confidence. ## How is Wethaq different from Moody's CreditLens? Wethaq is a CreditLens alternative built specifically for Saudi Arabia and the GCC. CreditLens is an enterprise suite designed for large, mostly Western institutions; Wethaq focuses on Arabic and bilingual statement extraction, Saudi accounting and Islamic-finance conventions, and pricing and deployment sized for mid-market banks, finance companies, and audit firms. ## Does Wethaq replace SIMAH bureau data? No. SIMAH and Wethaq answer different questions. SIMAH, the Saudi credit bureau, reports a company's borrowing and repayment history. Wethaq analyzes what a company's financial statements say about its current health — liquidity, leverage, coverage, profitability, and activity. A complete credit decision uses both layers, so Wethaq complements bureau data rather than replacing it. ## What happens if extraction gets a figure wrong? Every figure Wethaq extracts is reviewable and correctable before any analysis is final. The platform flags low-confidence values, runs automatic balance checks — assets must equal liabilities plus equity — and routes each statement through an analyst review screen. Wethaq is pre-launch, so we publish no accuracy claims; the workflow is designed so a human approves every number. ## Does Wethaq handle Islamic finance instruments and IFRS? Yes. Wethaq's data model is IFRS-aligned, as adopted in Saudi Arabia, and includes Islamic-finance and GCC-specific line items as first-class fields: Sukuk, Murabaha and lease financing, retention receivables and payables, LC and LG margins, and costs in excess of billings. Zakat is treated as a distinct item, not forced into a Western tax line. ## Who is Wethaq for, and how do I get access? Wethaq is built for credit and risk teams at Saudi and GCC banks and finance companies, audit firms, and advisory and investment teams that assess private companies. The product is in early access: request access with your name, work email, and organization type, and we will contact you as onboarding slots open. # Put your analysts back on analysis. Request early access and be among the first credit teams in the GCC to run Wethaq on their own files. Prefer email?