The UAE Banks Federation (UBF), the only real consultant and unified voice of UAE banks, confused significance of function the Etihad Credit score Bureau has been taking part in within the growth of the banking and monetary sector within the UAE, consolidating the nation’s place as a worldwide monetary and business centre.
Throughout the “Companion Engagement Discussion board”, organised on the Emirates Institute of Finance in Dubai, UBF praised the Etihad Credit score Bureau’s initiatives in supporting sustainable growth of the UAE by assortment, evaluation and use of credit score data that contribute to creating knowledgeable selections primarily based on correct knowledge and on scientific bases for people and firms.
UBF hailed progress achieved by Etihad Credit score Bureau throughout its journey because it was established in 2012 and launched its operations in 2014 as a specialised federal entity
entrusted with gathering and sustaining credit score data for people and companies within the UAE, and contributing to the event of monetary and banking companies and enhancing transparency.
The Federation has renewed its dedication to additional strengthen the stable partnership with Etihad Credit score Bureau, as their constructive cooperation contributed to the event of options and merchandise that swimsuit numerous stakeholders’ necessities, and to construct on the sturdy foundations of the UAE’s financial, monetary and banking ecosystem to proceed progress.
Mr. Jamal Saleh, Director Normal of UBF, stated: “Correct knowledge and knowledge are the premise of growth in numerous sectors, particularly the banking and monetary sector. Since its institution, Etihad Credit score Bureau has been taking part in a key and important function in socio-economic growth by offering superior data and options to people, banks and monetary establishments, the place its experiences, knowledge, and research have enabled numerous stakeholders to make knowledgeable selections and handle dangers prudently”.
He added: “The banking sector has consolidated the UAE’s place as a worldwide monetary and banking centre, beneath the direct supervision and steering of the Central Financial institution of the UAE. We’re keenness to strengthen the partnership between the UBF and Etihad Credit score Bureau comes as a part of UBF’s ongoing efforts to supply a seamless and safe banking expertise characterised by transparency and competitiveness, to reinforce the information and innovation economic system and using the superior applied sciences. These efforts are mirrored within the constructive efficiency of the banking sector within the Belief Index, which reached 90%, outperforming a number of superior monetary and banking centres, and the banking sector remained probably the most trusted sector within the UAE”.
His Excellency Marwan Ahmad Lutfi, Director Normal of Etihad Credit score Bureau stated: “Our Companion Engagement Discussion board marks a major milestone as we have fun a decade of service to the UAE’s monetary ecosystem. From the start, Etihad Credit score Bureau has labored in shut collaboration with the banking sector by the UAE Banks Federation. By listening carefully to their wants, we attempt to develop the instruments essential to assist them succeed. Our focus is on enabling a proactive strategy to threat administration, making certain banks have the perception to make sound selections. Fulfilling the wants of our banking companions is our prime precedence, as their stability and progress immediately profit the larger image, which is the well being of the monetary sector and, accordingly, the power of our nationwide economic system”.
UBF and its member banks work in cooperation with Etihad Credit score Bureau to reinforce the monetary and banking business’s effectivity and integrity by offering correct data, knowledge, and experiences to ship banking companies that meet the necessities of consumers whereas sustaining the very best ranges of transparency, governance, and prudent threat administration.
The Director Normal of UBF stated the partnership with Etihad Credit score Bureau will witness additional developments in the course of the coming interval by launching modern merchandise and options to fulfill the rising necessities of people, institutional, and company prospects, particularly start-ups and SMEs, which play a significant function within the socio -economic growth.
He defined that the adoption and employment of superior applied sciences and the launch of digital channels by Etihad Credit score Bureau have allowed people and firms simpler and sooner entry to their credit score experiences and scores, enhancing monetary inclusion.
The Companion Engagement Discussion board witnessed a large participation of member banks of UBF. Etihad Credit score Bureau’s achievements, merchandise, options, and its credit score scores have been highlighted.