AECB unites with Ministry of Justice to strengthen credit registry

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Al Etihad Credit Bureau strengthens credit registry
Representational Image

Al Etihad Credit Bureau (AECB) has collaborated with the Ministry of Justice to expand its credit registry to include court-imposed legal financial obligations, with the aim of providing lenders with more holistic information about companies and individuals.

The UAE Ministry of Justice is responsible for regulating and supervising the administrative and financial affairs of the nation’s federal court system.

The Ministry of Justice also handles all other legal matters in the various federal ministries and prepares and implements the main laws governing civil and commercial disputes.

According to the statement, “To date, the Ministry has issued more than 36,000 active judgments in cases imposing payment obligations, affecting a total of more than 84,000 individuals and companies.”

Marwan Ahmad Lutfi
Marwan Ahmad Lutfi

“AECB’s credit registry, now expanded to include court-imposed financial obligations, is the result of a two-year effort in which the Bureau worked closely with the UAE Ministry of Justice. At AECB, we believe this expansion of data and analysis will deepen the scope of our credit reports and provide a comprehensive view of an individual or company’s creditworthiness. Most importantly, it will enable lenders to better assess credit risks, such as the borrower’s ability to meet credit obligations or make future payments.”

The improved credit registry underscores AECB’s commitment to providing comprehensive reports based on data and analytics that enable lenders, individuals, and businesses to make informed credit decisions.

AECB’s credit reports are growing in popularity as banks, financial institutions, telecommunications service providers, and government agencies, as well as a growing number of businesses, rely on them to make informed credit decisions, as per the statement.

Related: Bahrain’s KHCB introduces payment service via ‘Samsung Wallet’