Etisalat and du use the credit report and rating from Al Etihad Credit Bureau
The Emirates Telecommunication Group Company "Etisalat" and Du, a subsidiary of Emirates Integrated Telecommunications Company, have joined the list of subscribers to the services of Al Etihad Credit Bureau.
The two telecom companies will use AECB credit scoring during evaluations of postpaid service requests or device purchases to assess an individual or company’s ability to make future payments based on past payment patterns.
Etisalat and du are also among the largest companies in the country that provide information to the Etihad with credit information on outstanding bills and payment dates on a regular basis to individuals and companies in the United Arab Emirates.
AECB collects credit information from banks, finance companies, telecommunications companies, water and electricity companies, and courts, with the aim of adding more accuracy and comprehensiveness to the credit and analytical reports issued by the company. This information also contributes to the calculation of outstanding credit ratings and indicators.
This development is in line with the company's ongoing commitment to adopting the highest international standards in preparing credit reports and strengthening the financial infrastructure in the country.
“Banks and financing companies in the country analyze the report and credit evaluation before approving applications for loans or credit cards,” said Marwan Ahmed Lotfi, CEO of Al-Etihad Credit Bureau.
He added, "For both Etisalat and du to provide AECB with information on paying the bills due, it is imperative for individuals and companies to commit to pay financial obligations on time and avoid default, as patterns of payment of dues related to services provided by telecom companies will appear in the credit report and will affect the merit The person's credit and access to, or benefit from, preferential services and products provided by telecommunications companies.
Fahad Al-Hasawi, Acting CEO of Emirates Integrated Telecommunications Company, said: “In du, we continue our commitment to adopting and implementing international best practices across all sectors of our operational business. Risks to enhance the protection of not only our shareholders, but also our customers and all other stakeholders.
Khalid Al-Khouli, Chief Consumer Officer at Etisalat, said: “Etisalat strives continuously to protect its customers by following international best practices to maintain business efficiency and operating models in addition to providing long-term added value to our shareholders. Today’s announcement confirms our commitment to the sustainable management of all expectations. Our shareholders and customers across various sectors. "
The two telecom companies have worked with Al Etihad Credit Information Company over the past four years, and they became one of the company's information providers, which currently includes 78 suppliers, and adding them to the list of information providers in AECB contributed to strengthening the company's database to include 9 million individuals and 600,000 companies.
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