Al Etihad Credit Bureau held a panel discussion with a number of journalists and media personnel about the latest developments in the company and its business. H.E. Younis Al Khoori, Vice Chairman of Al Etihad Credit Bureau board of directors stated during the meeting yesterday "that all local and foreign banks in the country will have to provide all the credit data of their customers to Al Etihad Credit Bureau during the first phase, which begins in July without requiring banks to purchase those reports initially". Pointing out that the comprehensive system of credit reporting aims to strengthening the legislative infrastructure of the credit information in the UAE through the collection and documentation of information from various banks, financial institutions and agencies in the UAE, to conduct the necessary studies and rigorous scientific process on them and then provide a full and detailed credit reports.
Al Etihad Credit Bureau will begin as of July collecting information about individuals' credit applications, repayments and debt records from the banks operating in the country and other financial institutions and telecommunications companies, and it will also include payments over the past two years and defaults over the past five years.
The roundtable discussion was attended by Abu Dhabi based media at Ministry of Finance Abu Dhabi office.Al Etihad Credit Bureau hosts the following event.