Etihad Credit Bureau Plays Vital Role In Sustainable Development Of UAE Banking Sector

The UAE Banks Federation (UBF) has highlighted the crucial role of Etihad Credit Bureau in boosting the UAE's banking and financial sector. This collaboration enhances the nation's reputation as a global financial hub. At the "Partner Engagement Forum" in Dubai, UBF praised Etihad Credit Bureau's efforts in supporting sustainable development through effective credit information management.

Etihad Credit Bureau's initiatives enable informed decisions for individuals and companies by providing accurate data and sound methodologies. This partnership has led to solutions that meet various stakeholders' needs, strengthening the UAE's economic and financial foundations for continued growth.

Jamal Saleh, Director-General of UBF, emphasised the importance of accurate data for development across sectors, particularly banking and finance. He stated, "Accurate data and information are the basis of development in various sectors, especially the banking and financial sector." Since its inception, Etihad Credit Bureau has been pivotal in socio-economic progress by offering advanced information to individuals, banks, and financial institutions.

Saleh also noted that under the Central Bank of the UAE’s guidance, the banking sector has solidified the country's status as a global financial centre. He expressed UBF's commitment to enhancing its partnership with Etihad Credit Bureau to ensure a seamless banking experience marked by transparency and competitiveness.

Marwan Ahmad Lutfi, Director-General of Etihad Credit Bureau, remarked on their decade-long service to the UAE’s financial ecosystem. He said, "Our Partner Engagement Forum marks a significant milestone as we celebrate a decade of service to the UAE’s financial ecosystem." The bureau collaborates closely with banks through UBF to develop necessary tools for success.

Lutfi stressed that their priority is enabling proactive risk management for banks. By providing insights for sound decision-making, they aim to support bank stability and growth, which benefits the broader financial sector and national economy.

Commitment to Transparency

The ongoing cooperation between UBF member banks and Etihad Credit Bureau aims to enhance efficiency in the UAE’s financial sector. They provide accurate data and insights to deliver services that meet customer expectations while maintaining high standards of transparency and governance.

Saleh highlighted these efforts' positive impact on the Trust Index performance of 90 percent. This figure surpasses several advanced financial centres globally, reflecting well on the UAE's banking sector.

The collaboration between UBF and Etihad Credit Bureau continues to play a vital role in advancing the UAE’s banking landscape. Their joint efforts focus on fostering an environment where informed decisions drive growth and stability within the national economy.

With inputs from WAM