UAE's federal credit bureau to start operations in Q1 2014 - Emirates 24/7:
"Al Etihad Credit Bureau (AECB), a federal government company specialised in providing UAE-based credit reports and other financial information, has announced in a media statement today that it will be operational by the first quarter of 2014.
Supported by the UAE federal government, AECB has approached all UAE-based banks to sign agreements and provide credit information via a process which will be completed by the end of January 2014.
Additionally, AECB is currently finalising the installation of an electronic link with banks and financial institutions operating in the UAE in order to create a comprehensive database of individuals’ and businesses’ credit information.
Marwan Ahmad Lutfi, CEO of AECB, said: “Effectively run credit bureaux are internationally proven to support responsible lending, enhance payment behaviour and reduce credit losses from bad or non- performing debts.”"
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