The MoU mandates the two parties to launch joint financial education initiatives with the aim of fostering responsible money management habits among consumers in the UAE, remarked Jamal Al Jassmi, the general manager of EIBFS, after sealing the agreement with Marwan Lutfi, the chief executive of AECB
at the EIBFS Dubai campus.
Partners at WTIC 2019 included: Al Etihad Credit Bureau (AECB
), SALAMA Islamic Arab Insurance Co, HandsOn Systems - Owners of Aktuaris, FIS Global, yallacompare, eBaoTech, Protiviti, Moody's Investor Service, Merimen, Gargash Insurance Services, Milliman, Netcetera, Clyde & Co, Obrela Security Industries & IRIS Health Services.
collects credit history and data from banks, financial institutions, telecom companies, etc and make it available to banks and other institutions involved in financial lending.
Credit Score is the first credit scoring system for UAE's retail banking customers that helps predict the likelihood that customers will make their loan and credit card payments on time, based on previous credit and payment behavior.
chairperson, Mr Kabo Ngwanathebe said in an interview on July 6 that the meeting was aimed at, among others, capacitating association members on the operations of the organisation, discussion of action plan and linkages AECB
had with other Non-Governmental Organisations.
The ratings for AECB
are unaffected and will now be listed under the renamed entity, American Express National Bank.
Consumer Retail Credit Bureau Score is the first scoring system for UAE's retail banking customers.
"The launch of the credit score is in line with AECB
's ongoing commitment to adopt the highest international standards in credit reporting and enhancing the UAE financial infrastructure," said Marwan Ahmad Lutfi, CEO of AECB
will be critical in making the market for lending more sound."
The call has been answered in the UAE as the Federal Government has established Al Etihad Credit Bureau (AECB
), a company mandated to implement and operate a credit reporting system across the country.
BPG | bates has been appointed by Al Etihad Credit Bureau (AECB
) to promote the launch of its credit reporting services across the UAE.
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