Al Etihad Credit Bureau is a Public Joint Stock Company wholly owned by the UAE Federal Government. As per UAE Federal Law No. (6) of 2010 concerning Credit Information, the company is mandated to regularly collect credit information from financial and non-financial institutions in the UAE. Al Etihad Credit Bureau aggregates and analyzes this data to calculate Credit Scores and produce Credit Reports that are made available to individuals and companies in the UAE.
Higher interest rates and less money set aside to cover bad debt will help UAE banks overcome static loan growth this year over last year and boost their bottom lines, according to Abdulaziz Al Ghurair, the chief executive of Mashreq bank and the head of the UAE Banks Federation.