Under the current challenging global business environment, comprehensive credit information plays an especially vital role in supporting risk management in the UAE.

So said Ali Ibrahim, Deputy Director General at The Dubai Department of Economic Development (DED), and Managing Director of Emcredit, commenting on the UAE Ministry of Finance’s (MoF) study for creating a federal credit bureau.

The DED has hailed the study as a significant step in fostering a conducive environment for prudent lending decision-making across industry sectors in the UAE. 

Ibrahim said that a federal credit bureau will bring confidence to all stakeholders in the credit reporting industry, and strongly facilitate the sharing of credit information.

DED established Emcredit in early 2006. It was the UAE’s first government-backed credit information services company, to offer credit reporting services in the UAE.

“The federal credit bureau coming into force will strengthen the UAE’s credit reporting infrastructure. Greater participation by banks will lead data coverage levels that will provide instant value through comprehensive credit reports,” said Ibrahim.

“Emcredit has so far invested in building a robust technical infrastructure, developing multiple value-added product, services and credit reporting skills.”

In its Doing Business Report 2010 recommendations to the UAE, The World Bank highlighted that “Emcredit’s operational experience, infrastructure, market penetration and existing relationship” will prove to be valuable in creating a federal credit bureau in the UAE.

About Emcredit:

Emcredit is the UAE’s pioneer information services company. It provides a range of comprehensive, accurate and timely information solutions such as credit bureau services, cheque-honouring reports, business background reports and other risk assessment tools. Emcredit’s decision support tools enable private and public entities to gain greater perspective into the risk profiles of individuals and companies, thereby empowering them to make more informed business decisions. 

The company has a database on individuals and companies in the UAE, including 5.6 million consumer identification records, payment behaviour information on consumer and commercial borrowers and 35 per cent of mortgage data in the UAE. It has established data-sharing agreements with several government departments, to power its information solutions. These government entities include Dubai e-Government, Dubai Police, Department of Economic Development (DED), Dubai Land Department and its subsidiary, the Real Estate Regulatory Authority.


Ketaki Banga

Ten years of content creation, strategising and managing the big picture. I write across various subjects and media including print, online, documentaries, television, advertising and marketing-communication. Currently, as the editor of SME Advisor Middle East – a magazine for small and medium enterprises – I handle print, online initiatives, magazine events and business development. Prior to this, I worked with ZK McCann Tanzania, handling brand strategy and campaigns in Tanzania, Kenya, Uganda and Malawi for clients such as Celtel (telecom), CRDB (bank), TANESCO (electricity), TTCL (telecom), PSI (Population Services International—an NGO), TCC (Tanzania Cigarette Company), TBL (Tanzania Breweries Limited), Mwananchi and The Citizen newspapers, Coke, Gapco (petrol), Hitachi, and more. In India, besides working with various publications, I was also a lead content developer with Tata Interactive Systems, an e-learning company that caters to top international clients. My job involved understanding instructional design fundamentals to design and develop educational and training content ranging across K-12, university, corporate and government lines of businesses.