Al Etihad Credit Bureau has commenced the issuance of consumer credit reports to banks and financial institutions that have submitted historical credit data to the Bureau and subscribed to access the credit reporting system.
The credit reports will include consumers’ debt obligations and payment behaviour patterns for the past 24 months. These reports will no doubt contribute positively to the banking sector, playing an important role in the assessment and management of credit and possible losses resulting from non-performing loans. Individuals will in turn, be able to have a comprehensive overview of their current financial obligations and debt payment frequency and consistency over the past two years.
Source : WAM News Agency for United Arab Emirates
