Al Etihad Credit Bureau (AECB)
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.
Credit Report
The Credit Report is a document that includes your personal identity information, details of your credit cards, loans and other credit facilities, along with your payment, bounced cheque history and in the future your water and electricity billing and payment history.
The information in the Credit Report is provided by banks, finance companies and telecom companies. Additional information from other sources such as utilities, real estate, government and other entities will be added in the near future.
Credit Score
It is a three-digit number that predicts how likely you are to make your loan and credit card payments on time. The number ranges from 300 to 900. A low score indicates a higher risk, whereas a higher score indicates a lower risk. The Credit Score is calculated using information from various sources and changes according to the most recent information in your Credit Report. Reducing the number of credit cards, consistently reducing outstanding balances, and making payments on or before the due date will improve your Credit Score.
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